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| Exchange Disseminated Time | Butterfly Gandhimathi Appliances Ltd has informed BSE that the Board of Directors of the Company at its meeting held on May 11, 2012, inter alia, has considered and approved the following:
1. Taking on record the resignation of Mr. D. Krishnamurthy as a director of the Company.
2. The appointment of Mr. K. J. Kumar and Mr. G. S. Samuel as independent directors on the Board.
3. The appointment of Mr. R. S. Prakash as a nominee director of Reliance Alternative Investments Fund - Private Equity Scheme-I (acting through Reliance Alternative Investments Services Private Limited); and
4. The issuance and allotment of an aggregate of 24,51,000 (twenty four lakhs fifty one thousand) equity shares on a preferential allotment basis to Reliance Alternative Investments Fund - Private Equity Scheme-I (acting through Reliance Alternative Investments Services Private Limited) under applicable SEBI regulations pursuant to the approval of the shareholders of the Company in a meeting held on April 16, 2012 and the in-principle approval of the stock exchanges dated April 27, 2012 for an aggregate consideration of Rs. 100,00,08,000 (Rupees One hundred crores eight thousand). |
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