|
| Exchange Disseminated Time | MIC Electronics Ltd has informed BSE that the Board of Directors of the Company at its meeting held on November 14, 2014, inter alia, has approved the following:
1. Resignation of Mr. Vijay Kumar Naidu Ch as Company Secretary with effect from September 05, 2014.
2. During the end of the quarter the Company has commenced the execution of Nashik Municipal Corporation (NMC) project for replacement of existing 69541 street lights with LED Luminaries and is expected to complete it within 6 months.
3. Disinvestment of majority stake holding of M/s. Maave Electronics Limited (i.e. of 100% subsidiary of MIC) to improve the cash flows of the Company. In this regard Dr. M. V. Raman Rao, Chairman & Managing Director of the Company is authorized to find a prospective buyer, negotiate, deal, finalise the price at fair market value in the best interest of the Company. |
|
|