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Board approves Bonus Issue

| Updated on October 30, 2012 Published on October 30, 2012

AGC Networks Ltd has informed BSE that the Board of Directors of the Company at its meeting held on October 30, 2012, inter alia, has considered and transacted the following business:

1. The Board approved the appointment of Mr. Sudip Rungta as an additional Director of the Company under Section 260 of the Companies Act, 1956 with effect from October 30, 2012.

2. The Board accepted and approved the resignation of Mr. Aparup Sengupta. Non-Independent and Non-Executive Director of the Company with effect from October 30, 2012.

3. The Board accepted and approved the resignation of Mr. Vishal Kohli, Company Secretary of the Company.

4. The Board recommended for approval of members, the issuance of Bonus shares in the proportion of 1 (One) new equity bonus share of Rs. 10/- each for every 1 existing equity share of Rs. 10/- each fully paid-up by capitalization of reserve (Bonus Ratio 1:1).

Source : BSE - >www.bseindia.com

Published on October 30, 2012
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