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| Exchange Disseminated Time | Veritas (India) Ltd has informed BSE that the Board of Directors of the Company at its meeting held on May 30, 2015, inter alia, has transacted the following:
1. The Board has also recommended dividend at the rate of 5% i.e. five (5) paise per Equity Share of face value of Rs. 1/- each for the year ended March 31, 2015 subject to approval of the shareholders at the ensuing Annual General Meeting of the Company.
2. Further pursuant to Securities and Exchange Board of India (Prohibition of Insider Trading) Regulations, 2015, the Company has formulated and adopted a new Code of Conduct for Prevention of Insider Trading and Code for Fair Disclosure of UPSI. A Code for Fair Disclosure of UPSI has been uploaded on the Website of the Company www.veritasindia.net.
3. Further the Board discussed that that members of the Company on May 11, 2015 had approved by way of special resolution through the process of postal ballot for authorizing the issue and allotment upto 26,00,000 Equity Shares on preferential basis to M/s. Latitude Consultants Limited. However due to certain unforeseen circumstances the said allotment in accordance clause 74 of SEBI (ICDR) Regulation 2009 could not be done. Hence it is decided to again initiate the process for passing a fresh special resolution for issue and allotment upto 26,00,000 Equity Shares on preferential basis to M/s Latitude Consultants Limited. The Board of Directors authorized Mr. Saurabh Sanghvi, Whole Time Director and/or Mr. Nitin Kumar Didwania, Director and / or Mr. Rajaram Shanbhag, Chief Financial Officer and/or Mr. Mukesh Tank, Company Secretary of the Company to do all such acts, deeds and things that may be required for issue of share capital on preferential basis and to convey Members Meeting and/or holding Postal Ballot event as may deem fit for again obtaining consent of the members of the Company. |
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