GSS America Infotech Ltd has informed BSE that the Board of Directors of the Company at its meeting held on November 30, 2010, has approved the following:
1. The Audited Financial Results (consolidated and standalone) of the Company for the year ended June 30, 2010.
2. Recommended a dividend of Rs. 1.50/-
3. Appointment of M/s Sarath & Associates, Chartered Accountants as Statutory Auditors for the financial year 2010-11.
4. Appointment of M/s BVR & Associates, Chartered Accountants as Internal Auditors for the financial year 2010-11.
5. Increase the authorized capital from Rs. 15.00 Crores to Rs. 50.00 Crores.
6. Raising of funds through Foreign Currency Convertible Bonds (FCCB)/ American Depository Receipts (ADR)/Global Depository Receipts (GDR) and Qualified Institutional Placement to the tune of $ 75 mn.
7. Change of name of the company from "GSS America Infotech Limited" to "GSS Infotech Limited".
8. Issuance of further 1,50,000 shares to ESOP trust.
9. Decided to convene the 7th Annual General Meeting of the Company on December 27, 2010
10. Directors report for the year 2009-10 and authorized Mr. P V R K Prasad, Chairman to sign on report and any addendum thereof.
11. The notice of 7th Annual General Meeting of the company and authorized Mr. Someswara Rao, Company Secretary to issue notice of Annual General Meeting to the shareholders of the company.
