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Saksoft Ltd. - Outcome of Board Meeting

| Updated on May 27, 2019 Published on May 27, 2019

The Board of Directors at their meeting held today i.e. May 27, 2019 inter - alia have approved the following -
Audited Financial Results

1. The Audited Standalone and Consolidated Financial Results of the Company and its Subsidiaries for the quarter and year ended 31st March 2019, pursuant to Regulation 33 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

We declare that the Statutory Auditors of the Company, Messrs. R.G.N. Price & Co., Chartered Accountants, Chennai have in their report issued an unmodified opinion on the Standalone and Consolidated Financial Results of the Company for the financial year ended 31st March, 2019.

Pursuant to Regulation 47 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we would be publishing an extract of the consolidated financial results in the prescribed format in English and Tamil Newspapers within the prescribed time. The details of the standalone and consolidated financial results of the Company would be available on the website of the Company www.saksoft.com as well as on the websites of the Stock Exchanges.

Dividend

2. Recommended a final dividend of Rs. 3.00/- per equity Share (30%) for the Financial year 2018-19 on equity shares of Rs.10/- each, subject to the approval of the Shareholders at the ensuing Annual General Meeting (AGM) of the Company to be held on August 12, 2019.

Annual General Meeting and Book Closure

3. Decided to convene the 20th Annual General Meeting on 12th August, 2019 and approved the Closure of Register of Members and Share transfer books of the Company between 3rd August, 2019 to 12th




August, 2019 (both days inclusive), for the purpose of the Annual General Meeting and payment of dividend, if approved by the Shareholders at the Annual General Meeting.

Appointment of Independent Directors

4. The Board has approved the re- appointment of Mr. Amitava Mukherjee and Mr.Ajit Thomas as Independent Directors who holds office upto September 26, 2019 as Independent Directors not liable to retire by rotation for a second term of five consecutive years from 27th September, 2019 till 26th September 2024 subject to the approval of the shareholders at the ensuing Annual General Meeting of the Company.

Disclosure in respect of the above Directors pursuant to Regulation 30 (6) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 is enclosed.

Acquisition of Final tranche of Equity Stake in Dreamorbit Softech Private Limited, a Subsidiary Company
5. Considered and approved the proposal of further acquisition of 20% of the Equity Share Capital in Dreamorbit Softech Private Limited, a subsidiary of the Company. Disclosure under Regulation 30 read with Schedule Para A of Part A of Schedule III of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 is as per the annexure to this covering letter.

The meeting of the Board of Directors of the Company commenced at 12.00 Noon and concluded at 1.20 PM.

A copy of the said results together with the Auditors Report together with the financial results are enclosed herewith.

This is for your information and record.

Pdf Link: Saksoft Ltd. - Outcome of Board Meeting

Source : BSE - www.bseindia.com

Published on May 27, 2019
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