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| Exchange Disseminated Time | Camlin Ltd has informed BSE that the Board of Directors of the Company at its meeting held on October 19, 2011, inter alia, have re-constituted the Board following the official closure of an open offer made by Kokuyo S & T Co., Ltd., Japan and purchase of equity shares of the Company from some of the Promoters, pursuant to which Kokuyo S & T Co., Ltd., Japan has acquired a majority stake in the Company.
The Board recorded the above and noted that Kokuyo S & T Co., Ltd., Japan being majority shareholder in the Company is now one of the promoters of the Company.
The Board approved the following items:
- Mr. Rajiv M. Dandekar (Joint Managing Director), Mr. Deepak M. Dandekar (Executive Director) and Mr. Ashish S. Dandekar Non- Executive Director being Non-Independent Director related to the Promoters have resigned as Directors.
- Mr. Anil C Singhvi (Non-Executive Director), Mr. Deepak K. Ghaisas, Mr. Vijay N. Paranjpe and Mr. Shishir S. Shirgaokar (Independent Directors) have also resigned as Directors.
- Mr. Takuya Morikawa, Mr. Nobichika Doi, Mr. Hirofumi Iwatsu and Mr. Takeo Iguchi have been appointed as Additional Directors nominated by Kokuyo S&T Company, Ltd.
- The Board also appointed Mr. R C Bhargava, Mr. Hiroaki Takayama and Mr. Hisamaro Gaugu as Independent Directors.
- Mr. R Sriram, Mr. Dhananjay N Mungale and Mr. Shishir B Desai will continue as Independent Directors.
- Mr. Dilip D Dandekar will continue as Chairman and Managing Director and Mr. Shrirarn S. Dandekar is now re-designated as Joint Managing Director. Mr. Takuya Morikawa will be the Non-Executive Vice Chairman.
b. The Board also appointed Mr. Nobichika Doi, Mr. Hirofumi Iwatsu & Mr. Takeo Iguchi as Executive Director subject to approval of members and the Central Government and they obtaining the work permit.
c. The Board approved the Change in the name of the Company from "Camlin Limited" to “Kokuyo Camlin Limited” subject to the approval by Registrar of Companies and the members.
d. The Board also approved the change in the registered office of the Company from the present address at 9-B Nanddeep Industrial Estate, Kondivita lane, J.B.Nagar Andheri(E) to 48/2 , Hilton House, Central Road, opp Tunga Paradise Hotel, MIDC Andheri (East) Mumbai 400093.
The Company will seek necessary approvals from the members by way of Postal Ballot. |
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