1. Appointment of Mr. R Subramanian as Chairman & Managing Director of the Company for a period of five years commencing from November 16, 2004 without remuneration.
2. Alteration in Clause V of the Memorandum of Association by substituting new Clause V & Article 4 of Article of Association of the Company by substituting new Article 4.
3. Authorizing the Board to create, offer, issue and allot up to 2,17,76,332 warrants at a price
of Rs 17.50 per warrant, on preferential basis to the Promoter's Friends or their Nominees with
each warrant convertible into one equity share of the Company of nominal value of Rs 10/- each at a premium of Rs 7.50 per equity share, so that the total number of equity shares to be issued by the Company upon conversion of the Warrant does not exceed 2,17,76,332 equity shares, on such terms and conditions as may be decided and deemed appropriate by the Board of Directors of the Company at the time of issue or allotment.
The company has informed that members at an EGM of the Company held on 29/03/2005 have accorded the following :
1. Shifting of Registered Office of the Company from the State of Karnataka to the State of Tamil Nadu and substituting the same in the Memorandum of Association of the Company.
2. Alteration of Memorandum of Association of the Company by deletion of sub clauses 1 & 2 of Clause IIIA ofMemorandum of Association and insertion of new clauses.
3. Change of Name of the Company from "Standard Cables Ltd" to " Savant Infocomm Ltd".
4. Increase in the Authorised Share Capital of the Company from Rs 4,00,00,000 divided into 40,00,000 shares of Rs.10/- each to Rs 10,00,00,000 divided into 1,00,00,000 Equity shares of Rs 10/- each and consequential amendment in the Memorandum of Association of the Company.
5. Authority to the Board to offer, issue and allot Equity Shares as the Board at its sole discretion may at any time
thereafter decide, to all or any of the following categories viz, the Associated Companies, Non-resident Indians, other bodies corporate or other persons, whether they are or not the members of the Company, by way of preferentialallotment, private placement or by rights issue to the existing shareholders, and such issue and allotment to be made for cash or other considerations as the Board at its absolute discretion deem fit.
6. Appointment of M/s N Raja & Associates, Chartered Accountants, Chennai as Statutory Auditors of the Company.
7. To Delist the equity shares of the Company from The Stock Exchange at Bangalore.
Item No 1 & 2 was approved through Postal Ballot with the consent of the members of the Company.
(As per BSE Bulletin dated on 05/04/2005)