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| Exchange Disseminated Time | CTIL Ltd has informed BSE that the Board of Directors of the Company at its meeting held on December 24, 2013, inter alia, has considered the following:
1. The Board of Directors have verified the Postal Ballot Results and the same was approved for submission to statutory authorities.
2. The directors taken on record the exercise of conversion options allotted to Promoters and Promoter group for 30,00,000 convertible Equity Share Warrants of Rs.10/- each at a premium of Rs.6.50/- per Warrant. Out of 30,00,000 Convertible Equity share Warrants only 29,27,000 warrant holders paid the full allotment money of Rs.16.50/- per share warrant. The Board of directors of the Company have therefore allotted 29,27,000 equity shares of the face value of Rs.10/- per equity share to the holders of 29,27,000 convertible equity share warrants.
3. With the permission of the Chairman of the Board, the Board has approved the appointment of Sri. Nandipati Venkata Simhadri, as Additional Director of the Company w.e.f. December 24, 2013. |
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