|
| Exchange Disseminated Time | Cyber Tech Systems & Software Ltd has informed BSE that the members of the Company, will consider to approve, by way of Postal Ballot, the following Resolutions:
1. To create, offer, issue and allot at any time to and for the benefit of employees who are nominated, including the directors of the Company, whether working in India or outside India, except the Directors of the Promoter Group who are not eligible under the SEBI Guidelines, under the Employees Stock Option Plan, 2007 (hereinafter referred as ESOP Scheme 2007) 12,35,633 stock options convertible in to equivalent number of equity shares of the Company but not exceeding in any financial year, equivalent to 5% of the issued and subscribed capital of the Company as on March 31, 2007 as the Board may deem fit for subscription for cash, in one or more tranches at an exercise price per share equivalent to the closing market price of the Equity Shares of the Company at the Stock Exchange where the Shares of the Company were most actively traded in terms of volume on the day of the grant, on the terms and conditions set out in the Explanatory Statement attached to this notice concerning this item and such other terms and conditions as the Board /Remuneration Committee/Compensation Committee or any Committee of Directors may decide in their absolute discretion prior to the issue and offer thereof. The number of options granted to any non-executive directors, including independent directors shall not exceed 250,000 options in any financial year, subject to necessary provisions & approvals.
2. The benefits of the Employees Stock Option Scheme 2007 proposed under Resolution No. 1 of Notice and duly approved by the Members, be extended to such present and future permanent employees including Managing / Whole time Directors of subsidiary Companies, as may be decided by the Board of Directors of the Company (the term Board of Directors shall be deemed to include Remuneration / Compensation Committee thereof).
The Board Directors of the Company at its meeting held on December 22, 2007 has appointed Mr. Anant Amdekar, Company Secretary in whole-time practice, as the scrutinizer for conducting the Postal Ballot voting process.
The Postal Ballot Form, duly completed and signed, should return so as to reach the Scrutinizer on or before the close of working hours on February 22, 2008.
The Scrutinizer, after completion of the scrutiny will submit his report to the Chairman of the Company. After knowing from the Chairman, the Executive Director shall declare the results of the Postal Ballot on February 25, 2008. |
|
|