R Systems International Ltd has informed that the Board of Directors of the Company at its meeting held on July 11, 2007, inter alia, has unanimously approved the following:
1. Grant of 632,500 stock options under R Systems International Ltd Employee Stock Option Scheme 2007 as recommended by the Compensation Committee.
2. Granted the approval for making an application before the Central Government under sub section (8) of section 212 of the Companies Act, 1956 for seeking exemption from the provisions of section 212 of the Companies Act, 1956 with respect to the current financial year ending on December 31, 2007.
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