|
| Exchange Disseminated Time | TVS Electronics Ltd has informed BSE that the members at the 16th Annual General Meeting (AGM) of the Company held on September 21, 2011, inter alia, have accorded to the following:
1. Adoption of the audited Balance Sheet as at March 31, 2011 and the Profit and Loss Account of the Company for the year ended on that date, together with the Directors' Report and the Auditors' Report thereon.
2. Re-appointment of Mr. S. R. Vijayakar & Dr. Sridhar Mitta as Directors of the Company.
3. Re-appointment of M/s. Sundaram & Srinivasan, Chartered Accountants, Chennai, Auditors of the Company to hold office from the conclusion of this Annual General Meeting till the conclusion of the next Annual General Meeting of the Company on remuneration, terms & conditions.
4. Appointment of Mr. Balu Doraisamy as a Director of the Company liable to retire by rotation.
5. Authority to the Board to offer, issue and allot not exceeding 3,50,000 (Three Lakh Fifty Thousand only) Warrants with option to exercise the right to be allotted equal number of Equity Shares of Rs. 10/- each of the Company on preferential basis to Tranzmute Business Advisory LLP, Mumbai (Allottee) on such terms and conditions as may be deemed fit by the Board and at such price as determined in accordance with Chapter VII of SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2009 ("Price").
6. To offer, issue and allot in one or more tranches to such permanent employees of the Company, whether working in India or out of India and Directors of the Company whether Whole-time Directors or otherwise (hereinafter referred to collectively as the "Employees") under the "Employees Stock Option Scheme 2011" (hereinafter referred to as "ESOP Scheme 2011"), not exceeding 12,35,000 (Twelve Lakh Thirty Five Thousand only) Equity Stock options convertible into equal number of Equity Shares of the face value of Rs. 10/- each (options) constituting about 7% of the paid-up Equity Share capital of the Company as on March 31, 2011 either directly or through a "Employees Welfare Trust" (hereinafter referred to as "Trust"), on such terms and conditions as may be determined by the Board in accordance with the Guidelines or any other applicable provisions as may be prevailing at that time.
7. To extend the benefits of the said ESOP Scheme 2011 referred to in the resolution under item No.7 above in this Notice to such Directors whether Whole-time Directors or otherwise of TVS Investments Ltd, the Holding Company (hereinafter referred to collectively as the "Employees") not exceeding 5,30,000 (Five Lakh Thirty Thousand only) Equity Stock options convertible into equal number of Equity Shares of the face value of Rs. 10/- each (options) constituting about 3% of the paid-up Equity Share capital of the Company as on March 31, 2011 either directly or through a "Employees Welfare Trust" (hereinafter referred to as "Trust"), on such terms and conditions as may be determined by the Board in accordance with the Guidelines or any other applicable provisions as may be prevailing at that time.
8. Authority to the Board to offer, issue and allot in one or more tranches such number of stock options which may be equal to or exceeding 1% of the issued capital (excluding outstanding warrants and conversions) of the Company at the time of grant of options during anyone year, to permanent employees whether working in India or out of India and Directors whether Whole-time Directors or otherwise of the Company or Directors of TVS Investments Ltd, the Holding Company, under the "Employees Stock Option Scheme 2011" (ESOP Scheme 2011), on such terms and conditions as may be determined by the Board in accordance with the Guidelines or any other applicable provisions as may be prevailing at that time. |
|
|