Dhandapani Finance Ltd has informed that the Board of Directors of the Company at its meeting held on October 12, 2007, inter alia, has approved the following:
1. Further issue of equity shares on Rights basis upto Rs 50 crores.
2. To convene an Extra Ordinary General Meeting at an appropriate date to consider increase in the Authorised Share Capital and other all matters.
3. Centrum Capital Ltd shall act as Lead Manager to the Rights Issue and ALMT Legal shall act as Legal Counsel for the Rights Issue.
4. Nr. R Ravichandran, who hold the position as Chief Executive Officer of the Company is appointed as Managing Director of the Company.
5. Mr. Raymond Chan and Mr. Ramesh Kumar appointed as Additional Directors of the Company and Ms. Angela Chun appointed as Alternation Director to Mr. Raymond Chan of the Company.
6. To alter the objects Clause of the Memorandum of Association to include carrying on the business of Insurance Agency.
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