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| Exchange Disseminated Time | Oracle Financial Services Software Ltd has informed BSE that the Company is in the process of identifying a suitable candidate for the replacement of Mr. Y M Kale, the Non-Executive Independent Director, who resigned w.e.f. December 15, 2014. Pursuant to the Listing Agreement, it is necessary for the Company to fill in the post within 90 days from December 15, 2014.
The Company is taking all necessary steps to fill in the position as quickly as possible. Since the position of Non-Executive Independent Director to be filled is very senior and the management intends to fill up the position with a person of right talent, Company is following an appropriate selection process. However it appears that it will not be possible for the Company to fill up the said vacancy before the scheduled date of March 14, 2015. |
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