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| Exchange Disseminated Time 13/02/2017 14:42:58 | Advance Metering Technology Ltd has informed BSE that the Board of Directors of the Company at its meeting held on February 13, 2017, from 10:30 A.M. to 02:25 P.M. inter alia, has considered, approved and taken on record the following items:
1. Delisting of Securities from one of the Designated stock exchange
The Board while discussing the financials of the company for the quarter ended December 31, 2106, deliberated on various measures to reduce the overall expenses of the company. The matter of listing of the securities of the company on two stock exchanges was considered. The Board was of the opinion that the listing fee paid to both National Stock Exchange and the Bombay Stock Exchange is disproportionate to the benefits accruing to the company or its stock holders and that the small capital base of the company does not justify the listing on both the stock exchanges.
After deliberations, the Board decided that the shares of the company be delisted from the National Stock Exchange. The Bombay Stock Exchange having a nationwide trading terminal, delisting of the securities from the National stock Exchange would not impact the shareholders of the company in any way.
2. Appointment of Mr. Hiydesh Jain as Chief Financial Officer of the Company who shall be designated as Key Managerial Personnel (KMP) of the Company. |
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