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| Exchange Disseminated Time 22/01/2016 15:06:19 | Geojit BNP Paribas Financial Services Ltd has informed BSE that the Board of Directors of the Company at its meeting held on January 22, 2016, have taken the following decisions:
1. Approved a Restated Shareholders' Agreement with BNP Paribas S.A, its affiliate, namely BNP Paribas India Holding Private Limited (collectively, "BNPP") and the initial promoters of the Company, namely, Mr. C.J. George and Mrs. Shiny George which would replace the existing shareholders agreement dated March 13, 2007 on the date BNPP acquires control of Sharekhan Limited ("Effective Date"). Pursuant to the Restated Shareholders Agreement, while BNP Paribas continue to retain its present shareholding in the Company, in brief, rights of BNPP to nominate directors on the Board of the Company, affirmative voting / consent rights of BNPP at the Board level and shareholders level and information rights of BNPP would terminate on the Effective Date. Also, the Company will enter into an agreement for phasing out use of BNPP's brands, name and associated intellectual property from the business of the Company within 6 months from the Effective Date. The restated SHA will lapse and the original SHA will remain in force if the acquisition of Sharekhan is not completed by June 30, 2016.
2. Allotted 6,70,809 equity shares of the face value of Re. 1 each to employees of the Company and subsidiaries upon exercise of stock options under Employees Stock Option Plan 2010 and ESOP 2007 for Key Employees. |
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