Infotrek Syscom Ltd has informed that the Board of Directors of the Company at its meeting held on April 10, 2008, has considered and decided as below:
1. The Board resolved to convert, in accordance with the terms of issue 600,000 warrants issued to Bennett, Coleman & Co. Ltd into 600,000 Equity Shares of face value of Rs.10/- each of a premium of Rs. 80 per shares as fully paid Equity Shares.
2. The Board ratified the allotment of 1,900,000 warrants to First Online Comtrades Private Ltd as done by the Compliance Committee of the Director at their meeting held on March 29, 2008.
3. The Board took on record the MOU signed by the Company with the Madhya Pradesh Trade and Investment Facilitation Corporation Ltd (TRIFAC) a wholly owned Undertaking of Govt. of Madhya Pradesh for setting up recycling plants in Madhya Pradesh for plastic & electronic waste. On implementation of the above projects in the different States of India, the Company would be the only multi-location e-waste management (WEEE)Company in India.
4. The Bound of the Company welcomes announcement of the Guidelines for Environmentally Sound Management of E-waste by the Central Pollution Control Board (CPCB), New Delhi. On effective implementation of the above Guidelines, business of electronic waste recycling will grow by leaps and bounds in India. This will help in improving environmental conditions & ecological balance. This will also help generator of electronic waste especially large Corporate in complying Corporate Social Responsibility (CSR) by taking help of modern recycling facilities like of Eco Recycling Ltd (a subsidiary of the Company).
1. The Board resolved to convert, in accordance with the terms of issue 600,000 warrants issued to Bennett, Coleman & Co. Ltd into 600,000 Equity Shares of face value of Rs.10/- each of a premium of Rs. 80 per shares as fully paid Equity Shares.
2. The Board ratified the allotment of 1,900,000 warrants to First Online Comtrades Private Ltd as done by the Compliance Committee of the Director at their meeting held on March 29, 2008.
3. The Board took on record the MOU signed by the Company with the Madhya Pradesh Trade and Investment Facilitation Corporation Ltd (TRIFAC) a wholly owned Undertaking of Govt. of Madhya Pradesh for setting up recycling plants in Madhya Pradesh for plastic & electronic waste. On implementation of the above projects in the different States of India, the Company would be the only multi-location e-waste management (WEEE)Company in India.
4. The Bound of the Company welcomes announcement of the Guidelines for Environmentally Sound Management of E-waste by the Central Pollution Control Board (CPCB), New Delhi. On effective implementation of the above Guidelines, business of electronic waste recycling will grow by leaps and bounds in India. This will help in improving environmental conditions & ecological balance. This will also help generator of electronic waste especially large Corporate in complying Corporate Social Responsibility (CSR) by taking help of modern recycling facilities like of Eco Recycling Ltd (a subsidiary of the Company).
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