Virtual Global board approves sub-division of equity shares

Virtual Global Education Ltd has informed BSE that the Board of Directors of the Company at its meeting held on March 22, 2013, inter alia, has transacted and approved the following business:1. Promoted Mr. N. P. Amoli, in place of Mr. S. N. Singh as CEO of the Company.2. Approved the borrowings of the Company for expansion of the business plans, in accordance with the provisions of Companies Act, 1956 and other applicable provisions, if any.3. Further issue of upto 2,00,00,000 (Two Crores) Warrants convertible into equivalent number of equity shares to various strategic investors on preferential basis u/s 81 (1A) of the Companies Act, 1956 and other applicable provisions, if any.4. Approved the Corporate Guarantee for getting Term Loan for the University Project in accordance with the provisions of Companies Act, 1956 and other applicable provisions, if any.5. Approved the Sub-Division of Existing Shares from Rs. 10/ - each to Rs. 1/- each, in accordance with the provisions of Companies Act, 1956 and other applicable provisions, if any.6. Extra-ordinary General Meeting of the Company will be held on April 20, 2013 at 15:30 Hrs. at the Registered Office of the Company.Source : BSE

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