Outcome of board meeting of Astec Lifesciences

Held on 12 October 2015

Astec Lifesciences announced that the Board of Directors of the Company at its meeting held on 12 October 2015, inter alia, have approved the following:

1. The transfer of 88,11,474 equity shares of the Company held by the existing promoters of the Company to Godrej Agrovet, the incoming promoter;

2. Appointment of N. B. Godrej as Additional Director of the Company with immediate effect;

3. Appointment of Balram Yadav as Additional Director of the Company with immediate effect;

4. Resignation of Laxmikant Ramprasad Kabra from the Board of Directors of the Company with immediate effect;

5. Resignation of Dr. P. L. Tiwari from the Board of Directors of the Company with immediate effect;

6. The proposed amendments to the Articles of Association of the Company, subject to the approval of the shareholders;

7. Conducting a postal ballot to seek approval of the shareholders of the Company to amend the Articles of Association of the Company; and

8. Reconstitution of the Audit Committee, Stakeholders' Relationship Committee, Corporate Social Responsibility Committee, Nomination and Remuneration Committee, Risk Management Committee and the ESOP Compensation Committee.

Powered by Capital Market - Live News