Pyramid Saimira Theatre Ltd has informed that the Board of Directors of the Company at its meeting held on November 10, 2007, has considered and unanimously approved the following:
1. Increasing the Authorised Capital to Rs 50 Crores from the present Authorised Capital of Rs 33 Crores and also to make necessary amendments in the Memorandum and Articles of Association of the Company.
2. Amendment to Clause 32(a) of the Articles of Association pertaining to the Sitting Fees payable to Non-executive Directors not exceeding the maximum amount as may be prescribed by the Central Government under Rule 10B of the Companies (Central Governments) General Rules and Forms, 1956, of the Companies Act, 1956.
3. Insertion of Clause 44-f for enabling the Company to hold Board or Committee Meetings by means of video or tele-conferencing. This amendment to Articles of Association of the Company shall come into force upon notification of necessary amendments to the Companies Act, 1956 and / or necessary clarifications from the Government of India.
4. Investment in other Bodies Corporate or giving guarantee on behalf of other Bodies Corporate for a sum not exceeding Rs 2,500 Crores.
Further the Company has informed that the Board directed the Company Secretary to conduct the Postal Ballot in order to get the approval on the above proposals.
The Board also took on record the following:(a) Business plan of M/s. Pyramid Saimira Productions Ltd, the subsidiary of the Company, in the context of their proposal to make an Initial Public Offering shortly.
(b) Various draft financial closure details of M/s. Pyramid Saimira Entertainment Ltd, Singapore, the subsidiary of the Company.
The Board also approved the acquisition of a Company engaged in Media Space.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment