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| Exchange Disseminated Time | Dynacons Systems & Solutions Ltd has informed BSE that the members at the 16th Annual General Meeting (AGM) of the Company will be held on September 29, 2011, inter alia, have accorded to the following:
1. To receive, consider and adopt the Audited Balance Sheet as at March 31, 2011 and Profit & Loss Account for the year ended on that date and the Reports of Board of Directors and Auditors thereon.
2. To appoint a Director in place of Mr. Dilip Palicha, who retires from the office of Director by rotation and being eligible, offers himself for re-appointment.
3. To appoint Auditors to hold office from the conclusion of this Annual General Meeting until the conclusion of the next Annual General Meeting of the Company and to authorize the Board of Directors to fix their remuneration.
4. Accorded for consolidating the Equity shares of the Company, including the paid up shares, such that 10 (ten) Equity Shares of the Company of the face value of Re. 1/- (Rupee One) each be consolidated into 1 (one) equity share of face value of Rs. 10/- (Rupees Ten) each and consequently the Authorised Share Capital of the Company of Rs. 30,00,00,000 (Rupees Thirty Crores) consisting of 30,00,00,000 (Thirty Crore) Equity shares of Face value of Re. 1 each (Rupee One) be consolidated into Rs. 30,00,00,000 (Rupees Thirty Crores) consisting of 3,00,00,000 (Three Crore) Equity shares of Face value of Rs. 10 (Rupees Ten) each with effect from the “Record Date” to be determined by Board / Committee of Directors for this purpose.
5. Modification of existing Clause V of the Memorandum or Association of the Company.
6. To create, offer and issue Shares of Rs. 10/- each of the Company with or without warrants attached thereto which may eventually be converted into Equity Shares on Right Basis to the Members of the Company as on the “Record Date” (to be determined by Board / Committee of Directors for this purpose) such that the aggregate size of the issue shall not exceed Rs. Twelve Crore or such sum, as may be determined by the Board of Directors in this regard, in the ratio to be determined by the Board (the “Rights Issue”) and on such other terms and conditions as may be mentioned in the draft Letter of Offer to be issued by the Company in respect of the Rights Issue. |
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