Held on 11 February 2015
MIC Electronics announced that the Board of Directors of the Company at its meeting held on 11 February 2015, inter alia, has considered and approved the following business:1. To improve cash flows of the Company MIC Electronics board resolute to Disinvestment of stake of MIC Electronics Inc (USA). In this regard board authorised Dr. M V Raman Rao, Managing Director to find a prospective buyer and negotiate, deal, finalise the price at fair market value in the best interest of the company.
2. Energy Efficiency Services (EESL), New Delhi after having success for its initial efforts in promoting energy efficient LED Street lights with "local governing bodies" and LED bulbs with "state specific distribution companies" in Andhra Pradesh, Tripura and other states, Central Government declares for fast implementation of energy efficient LED lighting (LED Street lights & LED Bulbs) in 100 cities of India, before Mar-2016. MIC, as an empanelled vendor of EESL, has been associating in this programme for supply of LED Street Lights & LED Bulbs to local governing bodies & distribution companies through EESL.
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