Astec Lifesciences Ltd approves transfer shares of existing promoters to Godrej Agrovet Ltd.

The Board of Directors of Astec Lifesciences Ltd at its meeting held on October 12, 2015, have approved the transfer of 88,11,474 equity shares of the Company held by the existing promoters of the Company to Godrej Agrovet Limited, the incoming promoter.

The Board approved the appointment of Mr. N. B. Godrej as Additional Director of the Company with immediate effect and Mr. Balram Yadav as Additional Director of the Company with immediate effect.

The Board approved the resignation of Mr. Laxmikant Ramprasad Kabra from the Board of Directors of the Company with immediate effect and Dr. P. L. Tiwari from the Board of Directors of the Company with immediate effect.

The Board approved the proposed amendments to the Articles of Association of the Company, subject to the approval of the shareholders and proposal for conducting a postal ballot to seek approval of the shareholders of the Company to amend the Articles of Association of the Company.

The Board also approved the reconstitution of the Audit Committee, Stakeholders' Relationship Committee, Corporate Social Responsibility Committee, Nomination and Remuneration Committee, Risk Management Committee and the ESOP Compensation Committee.

Shares of ASTEC LIFESCIENCES LIMITED was last trading in BSE at Rs.240 as compared to the previous close of Rs. 240.2. The total number of shares traded during the day was 19157 in over 457 trades.

The stock hit an intraday high of Rs. 244 and intraday low of 238.7. The net turnover during the day was Rs. 4616166.

Source : Equity Bulls

Keywords