Cambridge Technology Enterprises Ltd has informed that the Board of Directors of the Company at its meeting held on January 28, 2008, inter alia, has considered and approved the following:
I. Draft Postal Ballet Notice containing the following Special Resolutions:
a. Ratification of Pre-IPO ESOP Scheme pursuant to Clause 22.2A of SEBI (Employee Stock Option Scheme and Employee Stock Purchase Scheme) Guidelines, 1999.
b. Amendment to the existing ESOP Scheme 01, 2006 as per Clause 6 & 7 of SEBI (Employee Stock Option Scheme and Employee Stock Purchase Scheme) Guidelines, 1999.
c. Approval of shareholders u/s 81(1A) of the Companies Act, 1956 to create, issue and allot 15,00,000 Stock Options for the employees of the Company, directors and employees of subsidiaries.
d. Approval of New ESOP Scheme 2 - 2008 as per clause 6.3 & 7 of SEBI (Employee Stock Option Scheme and Employee Stock Purchase Scheme) Guidelines, 1999.
The Company is in the process of obtaining the shareholders approval by way of postal ballot in respect of the aforesaid matters.
II. The Board also discussed and considered various options for restructuring of its operations including that of its subsidiaries.
I. Draft Postal Ballet Notice containing the following Special Resolutions:
a. Ratification of Pre-IPO ESOP Scheme pursuant to Clause 22.2A of SEBI (Employee Stock Option Scheme and Employee Stock Purchase Scheme) Guidelines, 1999.
b. Amendment to the existing ESOP Scheme 01, 2006 as per Clause 6 & 7 of SEBI (Employee Stock Option Scheme and Employee Stock Purchase Scheme) Guidelines, 1999.
c. Approval of shareholders u/s 81(1A) of the Companies Act, 1956 to create, issue and allot 15,00,000 Stock Options for the employees of the Company, directors and employees of subsidiaries.
d. Approval of New ESOP Scheme 2 - 2008 as per clause 6.3 & 7 of SEBI (Employee Stock Option Scheme and Employee Stock Purchase Scheme) Guidelines, 1999.
The Company is in the process of obtaining the shareholders approval by way of postal ballot in respect of the aforesaid matters.
II. The Board also discussed and considered various options for restructuring of its operations including that of its subsidiaries.
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