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Corporate Announcement

Security Code : 519479    Company : OMEAG    
Outcome of Board Meeting 
  Exchange Disseminated Time     
Omega Ag-Seeds Punjab Ltd has informed BSE that the Board of Directors of the Company at its meeting held on December 15, 2011, inter alia, has considered and approved the following:

1. A comprehensive report was placed before the Board on prospects of Agricultural and aquacultural trading. After considering the report and a detailed discussion, it was decided by the Board of Directors to venture into trading of various Aqua and Agri products.

2. As part of its diversification programme, the Board decided to enter into Sea food and Marine Exports business and in this direction, the Board resolved to acquire a 25% stake in Gayatri Sea Foods and Feeds Private limited.

3. In view of the high growth potential of the organized Agri sector, it was decided by the Board to expand the scope of business beyond seeds and in this direction, it was resolved to explore various agri and aqua products including canned foods, ready to eat foods etc.

4. The results of the Postal Ballot for passing special resolutions under sections 293 (1) (a), Section 17 and Section 372A as declared by Mr. Girish Madan of Girish Madan & Associates, the scrutinizer for the postal ballot was placed before the Board. As per the scrutinisers report, all the three resolutions were unanimously passed by the members through postal ballot.


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