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BSE: 532406NSE: ISIN: INE005B01019

3rd-Aug-2016 13:50Source: BSE

Avantel - Updates on ensuing Board Meeting on August 11, 2016

With reference to the earlier letter date August 02, 2016, about the schedule of the proposed meeting of Board of Directors to be held on August 11, 2016 at 11.00 AM, however, due to the non-availability of majority of directors, the proposed time for the commencement of the meeting has been revised from 11.000 AM to 03.00 PM.

Accordingly, Avantel Ltd has now informed BSE that a meeting of Board of Directors of the Company will be held on August 11, 2016, at 3.00 PM at the corporate office of the Company situated at Plot No. 16, Sector-Ill, HUDA Techno Enclave, Opp. K. Raheja IT Park, Madhapur, Hyderabad - 500 081, inter alia:

1. To consider and approve the Un-audited Financial Results for the First Quarter ended June 30, 2016.

2. To consider and approve the Draft Scheme of Amalgamation providing for amalgamation of Wiki Kids Limited into Avantel Limited.

3. To consider and approve the Draft Valuation Report for the purpose of issue of shares of Avantel Limited to the Shareholders of Wiki Kids Limited as consideration for amalgamation of Wiki Kids Limited into the Company.

In terms of provisions of Code of Conduct for Prevention of Insider Trading of the Company, the Trading Window for transactions in shares of the Company is closed from August 03, 2016 to August 13, 2016 (both days inclusive), inter alia, for the purpose of announcement of the Un-audited financial Results by the Company for the first quarter ended on June 30, 2016.