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| Exchange Disseminated Time | Tamilnadu Telecommunications Ltd has informed BSE that the members at the 21st Annual General Meeting (AGM) of the Company held on September 30, 2009, inter alia, have approved the following:
1. Adoption of the Balance sheet as at March 31, 2009 and Profit and Loss Account for the year ended on that date together with the reports of the Directors’ and Auditor’s thereon.
2. Re-appointment of Shri. B. Elangovan & Shri. K. B. Batra as Directors, liable to retire by rotation.
3. To make alteration in the capital clause of the Memorandum of Association of the Company to increase the Authorized share capital to Rs. 50 Crores.
4. To issue and allot 1,54,32,700 equity shares of Rs. 10 each at par to TCIL against conversion of rupee loan and other dues of TCIL into equity share capital.
5. To issue and allot 75,83,300 equity shares of Rs. 10 each at par to consortium banks comprising SBI, Andhra Bank & PNB against conversion of its loan into equity share capital.
6. To avail bridge loan facility of Rs. 12.5 Crores from TCIL in addition to the materials credit being provided, against the security of land, building and other assets of the Company.
7. To make alteration in the following clauses of Articles of Association of the Company.
a) Article 4 — Increasing authorized share capital to Rs. 50 Crores.
b) Article 85 — Right to nominate number of Directors on the Board of the Company, by TCIL, TIDCO and Fujikura.
c) Article 86 — Chairman of the Board of Directors shall be nominated by TCIL.
d) Article 87(a) — Sitting fees of Directors Rs. 20000 per meeting. |
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