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| Exchange Disseminated Time 24/08/2016 12:55:50 | 8K Miles Software Services Ltd has informed BSE that the Board of Directors of the Company in their Meeting held on August 24, 2016, inter-alia, have considered, transacted and approved the following businesses:
1. Split of every 1 (One) equity share of the Company having face value Rs. 10/- each into 2(Two) equity shares of face value Rs. 5/- each, subject to approval of the shareholders.
2. Issue of Bonus Equity Shares in the ratio of 1:3, i.e. 1 (One) Bonus share for every 3 (Three) existing fully paid-up equity shares of face value of Rs. 5/- each of the Company by way of capitalization of Free Reserves subject to the approval of the shareholders in compliance with applicable provisions of the Companies Act, 2013, to the extant rules notified & Chapter IX of the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2009 subsequent amendments thereto.
3. To amend respective clause of the Memorandum of Association, in connection with the split of shares and to increase the authorized share capital of the Company from Rs. 20,00,00,000/- (Rupees Twenty Crores Only) to Rs. 30,00,00,000/- (Rupees Thirty Crores Only), subject to approval of the shareholders.
4. To seek enabling approval from the shareholders of the Company in the ensuing Annual General Meeting to raise funds through issue of equity shares/ convertible Bonds through Qualified Institutional Placement [QIP] and/ or Depository Receipts or any other modes for an amount not exceeding Rs. 500 crores.
5. Based on the recommendations of the Nomination and Remuneration Committee, the Board approved the reappointment of Mr. R. S.Ramani as Whole-time Director of the company for a period of 5 years, w.e.f. August 13, 2016, subject to approval of the shareholders.
6. Approved the draft copy of Notice of Annual General Meeting and the Director's Report to be sent to the Shareholders of the Company for their approval. |
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