30th Apr 2007 16:02
Subex Azure Limited30 April 2007 Dear Sir, Sub : Outcome of the Board Meeting This is to inform you that the Board of Directors, at their Meeting held on30-April-2007, has decided, inter alia, the following. 1. Approval of the audited stand-alone and unaudited consolidated financial results of Subex Azure Limited for the financial year ended 31st March 2007. 2. Recommendation of final dividend @ 20% on the paid-up Equity Share capital of the Company for the financial year 2006-07. 3. To convene the Annual General Meeting of the members of the Company on Thursday, 26th July 2007 and to close the share transfer books of the company between Monday, the 23rd of July 2007 and Thursday, the 26th of July 2007 (inclusive of both days) for the purpose of declaration of final dividend for the financial year 2006-07. 4. Pursuant to the provisions of Section 81 (1A) and all other applicable provisions of the Companies Act, 1956 (including any statutory modification (s) or re-enactment thereof, for the time being in force) and pursuant to the provisions of Chapter XIII of the Securities and Exchange Board of India (Disclosure and Investor Protection) Guidelines 2000 (SEBI (DIP) Guidelines), issue of Warrants to the Promoters/Promoter Group upto a maximum of 1,800,000 (1.8 Million only) share warrants to Subex Holdings Private Limited and 430,000 (0.43 Million only) share warrants to Mr. Sudeesh Yezhuvath, subject to shareholders' approval. The Board has also approved calling an Extra Ordinary General Meeting for the approval of the aforesaid issue of share warrants on 4th June 2007. The relevant date for the purpose of determining the price for Share Warrants as aforesaid would be 30 days prior to the date of Extra Ordinary General Meeting to be held on 4th June 2007 under the Chapter XIII of the Securities and Exchange Board of India (Disclosure and Investor Protection) Guidelines 2000 (SEBI (DIP) Guidelines). 5. Subject to the approval of the members, re-appointment of Deloitte Haskins & Sells, as the Statutory Auditors of the company for the financial year 2007-08. 6. Subject to the approval of the members, re-appointment of Mr. V Balaji Bhat and Mr. K Balachandran as the directors of the company, who are retiring by rotation at the ensuing Annual General Meeting. 7. Subject to the approval of the members, re-appointment of Mr. Subash Menon as a Chairman & Managing Director of the company from 01-October-2007 for another term of 5 years and varying the remuneration of Mr. Subash Menon w.e.f. 01-April-2007. 8. Subject to the approval of the members, varying the terms of appointment and remuneration of Mr. Sudeesh Yezhuvath, Whole time director of the Company. We are attaching the - Audited financial results for the year ended 31st March 2007, and - The press release, we intend to release in India on the financial performance of the company for the year ended 31st March 2007. Thanking you. Yours truly,for SUBEX AZURE LIMITED RAJKUMAR CCHIEF COUNSEL & COMPANY SECRETARY This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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