Others

Rasi Electrodes Ltd. - Announcement under Regulation 30 (LODR)-Cessation

| Updated on April 04, 2019 Published on April 04, 2019

1.The first term of office, as approved by shareholders at their 20th AGM held on 29.09.2014, of the Independent Director Mr N Prakash Kumar has ceased on 31st March 2019. Mr N Prakash Kumar has not sought extension and hence has ceased to be an Independent Director and Director on the Board of the Company with effect from 31.3.2019. The letter dated 30.03.2019 received from Mr N Prakash Kumar is enclosed.

2. As required under regulation 30 read along with Clause 7B of Para A of Part A of Schedule III, we hereby confirm that the Independent Director Mr N Prakash kumar has provided confirmation that the reason for his cessation as Independent Director is due to lapse of the shareholder approved tenure on 31.3.2019 and that he could not seek re-election due to his age factor and health concerns. He has also confirmed, in his letter dated 30.3.2019 (copy enclosed) that there is no other material reason other than the ones stated above.

3.The other Independent Directors namely Mr Hitesh M Dharamshi and Mr Ajay Goyal whose 1st Term of office has also similarly ceased on 31.3.2019, shall be continuing as Independent Directors on the Board of the Company since the shareholders have approved their re-appointment as Independent Directors for 2nd Term of 5 years from 1.4.2019 to 31.3.2024 at their 24th AGM held on 26.09.2018.

Pdf Link: Rasi Electrodes Ltd. - Announcement under Regulation 30 (LODR)-Cessation

Source : BSE - www.bseindia.com

Published on April 04, 2019
This article is closed for comments.
Please Email the Editor