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| Exchange Disseminated Time 28/10/2016 08:37:45 | Sasken Communication Technologies Ltd has informed BSE that the Board of Directors of the Company at its meeting held on October 27, 2016, has transacted the following:
1. Change of Name of the Company
The Board has approved the proposal for changing the name of the Company to “Sasken Technologies Limited" / Sasken Limited" subject to approval of the members of the Company and other regulatory authorities.
2. Approval for creating Sasken Employees' Share Based Incentive Plan 2016
The Board has approved the proposal for creating Sasken Employees' Share Based Incentive Plan 2016 not exceeding 5% of the paid-up capital of the Company as of March 31, 2016, subject to approval of the members of the Company and other regulatory authorities.
3. Exit from M/s. ConnectM Technology Solutions Pvt. Ltd.. the joint venture company
The Board has decided to exit from M/s. ConnectM Technology Solutions Pvt. Ltd., the joint venture company by disinvesting its holding of 46.29%. |
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