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| Exchange Disseminated Time | MT Educare Ltd has informed BSE that the Board of Directors of the Company at its meeting held on September 14, 2012, had transacted the following:
1. Approved the sell / transfer of ‘Global Champs’ business (consisting of six centres) wherein pre-school and day care activities for children in the age group of 1.5 years to 4.5 years are being undertaken to "Tree House Education and Accessories Ltd.’ Mumbai, or such other entity as the Board of Directors may deem fit in the best interest of the Company, on a 'going concern’ basis, subject to the approval of the shareholders through postal ballot.
2. Approved the draft of Notice pursuant to Section 192A of the Companies Act, 1956 read with the Companies (Passing of the Resolution by Postal Ballot) Rules, 2001.
3. Formed a board level committee to review and discuss the Joint Venture relationship pertaining to JV Agreement entered into by MT Education Services Limited, Company’s Wholly Owned Subsidiary (WOS) with HT Education Limited.
4. Noted the resignation of Mr. David Danziger-Non-executive, Non-independent Director of the Company with immediate effect.
Further the Company has informed that, the resignation of Mr. David Danziger shall not affect the Composition of Board of Directors. |
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