Comp U Learn Tech India Ltd has informed that the members at the Extra Ordinary General Meeting (EGM) of the Company held on February 27, 2008 inter alia, have accorded the following:
1. Change in management of the Company in terms of regulation 12 of the SEBI (Substantial Acquisition or shares and Takeover) Regulations 1997, appointing Mr. Gottipati S S Prasad and Mr. Pinnamaneni Jagadeesh Babu as the new Promoters in place of the existing promoters-Mr. Sreenivasa Rao Donepudi and Mr. Srinivas Raju S was carried as a special resolution.
(This resolution passed by the shareholders by way of Postal Ballot).
2. Appointment of Mr. Gottipati S S Prasad & Mr. Pinnamaneni Jagadeesh Babu as Directors of the Company.
3. Appointment of Mr. K S Rao, as a Managing Director of the Company for a period of 5 years effective from January 17, 2008.
4. Increase in Authorised Share Capital of the Company from Rupees 15 Crores to Rs 50 crores and consequent amendment to the Memorandum of Association of the Company.
5. Approval to the Preferential issue and allotment of 30,00,000 (Thirty Lakh) Equity shares and 35,00,000 (Thirty five Lakhs) Convertible Equity share warrants of a face value of Rs 10/- each and at a price of Rs 17.50 per share (Inclusive of premium of Rs 7.50) and pursuant to the provisions of Section 81(1A), of the Companies Act.
1. Change in management of the Company in terms of regulation 12 of the SEBI (Substantial Acquisition or shares and Takeover) Regulations 1997, appointing Mr. Gottipati S S Prasad and Mr. Pinnamaneni Jagadeesh Babu as the new Promoters in place of the existing promoters-Mr. Sreenivasa Rao Donepudi and Mr. Srinivas Raju S was carried as a special resolution.
(This resolution passed by the shareholders by way of Postal Ballot).
2. Appointment of Mr. Gottipati S S Prasad & Mr. Pinnamaneni Jagadeesh Babu as Directors of the Company.
3. Appointment of Mr. K S Rao, as a Managing Director of the Company for a period of 5 years effective from January 17, 2008.
4. Increase in Authorised Share Capital of the Company from Rupees 15 Crores to Rs 50 crores and consequent amendment to the Memorandum of Association of the Company.
5. Approval to the Preferential issue and allotment of 30,00,000 (Thirty Lakh) Equity shares and 35,00,000 (Thirty five Lakhs) Convertible Equity share warrants of a face value of Rs 10/- each and at a price of Rs 17.50 per share (Inclusive of premium of Rs 7.50) and pursuant to the provisions of Section 81(1A), of the Companies Act.
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