Held on 12 December 2014
Mahindra CIE Automotive announced that the Board of Directors of the Company at its meeting held on 12 December 2014, inter alia, has approved the following:1. Issue and allotment of 1,25,035 Equity Shares of face value of Rs. 10/- pursuant to exercise of options by certain applicants under the Company's Employees' Stock Option Scheme. Consequent to the allotment, the paid up capital of the Company has been increased from Rs. 933,326,510/- to Rs. 934,576,860.
2. Granting of 2,27,307 Employees Stock Options to the employees of Mahindra Ugine Steel Company and Mahindra Composites in lieu of the outstanding stock options held by such employees under their respective employee stock option schemes pursuant to the Integrated Scheme and Composites Scheme of Amalgamation becoming effective.
3. Appointment of Suhail A. Nathani as an Independent Director of the Company.
4. Appointment of Jose Ramon Berecibar Mutiozabal as an Additional Director who shall be a non-executive, non-independent director of the Company.
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