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| Exchange Disseminated Time 26/08/2015 18:32:58 | Future Market Networks Ltd has informed BSE that the Board of Directors of the Company at its meeting held on August 26, 2015, inter alia, has transacted the following :
1. The Board took on record the approval of shareholders obtained through postal ballot to sell its investments held in 4 subsidiaries and authorized the Committee of Directors to negotiate and finalize the terms of sale based on appropriate valuations determined through valuation reports.
2. The Board recommended to appoint M/s. Viren Gandhi & Co. Chartered Accountants as statutory auditors at the ensuing annual general meeting in place of retiring auditors viz. NGS & Co LLP, who have intimated their unwillingness to continue as statutory auditors considering their preoccupation.
3. The Board resolved to restate the Memorandum of Association and Articles of Association of the Company in line with the provisions of Companies Act, 2013 with additional business activities. The approval of members shall be sought through postal ballot. The Committee of Directors is authorized to finalize notice of postal ballot, calendar of events, appointment of scrutinizer and other related items. |
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