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| Exchange Disseminated Time | Sri Adhikari Brothers Television Network Ltd has informed BSE that the Board of Directors of the Company at its meeting held on May 30, 2014, inter alia, considered the following matters:
1. Recommended the payment of Dividend @ Rs. 0.60 (Rupee Sixty Paise Only) per Equity share i.e. 6% for the financial year 2013-14, subject to the approval of the members at the ensuing Annual General Meeting of the Company.
2. Changed the name of following committees of the Board in compliance with the provisions of Companies Act, 2013;
a. Remuneration Committee as 'Nomination and Remuneration Committee';
b. Investors' Grievance Committee as 'Stakeholders Relationship Committee'
3. Decided to seek approval of the shareholders of the Company through postal ballot process as per the provisions of Section 110 of the Companies Act, 2013 read with Rule 22 of the Companies (Management and Administration) Rules, 2014 for the following matters:
a. Increase in the Loans and Investment powers of the Company under Section 186 of the Companies Act, 2013;
b. Increase in borrowing powers of the Company as per the provisions of Section 180(1)(c) of the Companies Act, 2013;
c. Authority to create charge on assets of the Company as per the provisions of Section 180(1)(a) of the Companies Act, 2013;
d. Issue and offer of Options up to 1,00,000 (One lakh) to the employees under Employee Stock Option Plan convertible into equivalent number of Equity Shares of the Company.
5. Appointed Mr. Manish L. Ghia, Practicing Company Secretary, Mumbai as the Scrutinizer for conducting the postal ballot process in fair and transparent manner. |
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