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Outcome of Board Meeting

Updated on: Oct 09, 2012

Educomp Solutions Ltd has informed BSE that the Board of Directors of the Company at its meeting held on October 08, 2012, has discussed, considered and approved, subject to the approval of the Shareholders, the following: 1. To raise further capital by issuance of the long term securities including inter-alia amongst others International Bonds up to USD 250 Million or equivalent INR with a sub-limit thereof for raising money through equity linked instruments upto USD 75 million or equivalent INR. 2. Increase of the Authorize Share Capital of the Company from existing Authorized Share Capital of Rs. 30 Crore to Rs. 40 Crore. 3. To enhance the borrowing powers of the Directors under Sec. 293(1) (d) of the Companies Act, 1956 and to authorise to create Security/Charge/mortgage on the movable/ immovable Assets of the Company under Sec. 293 (1) (a) of the Companies Act, 1956. Board has also approved the calling of the Extra Ordinary General Meeting of the Shareholders of the Company.

Source : BSE - >www.bseindia.com

Published on October 09, 2012

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