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Astec Lifesciences announced that the Board of Directors of the Company at its meeting held on 12 October 2015, inter alia, have approved the following:
1. The transfer of 88,11,474 equity shares of the Company held by the existing promoters of the Company to Godrej Agrovet, the incoming promoter;
2. Appointment of N. B. Godrej as Additional Director of the Company with immediate effect;
3. Appointment of Balram Yadav as Additional Director of the Company with immediate effect;
4. Resignation of Laxmikant Ramprasad Kabra from the Board of Directors of the Company with immediate effect;
5. Resignation of Dr. P. L. Tiwari from the Board of Directors of the Company with immediate effect;
6. The proposed amendments to the Articles of Association of the Company, subject to the approval of the shareholders;
7. Conducting a postal ballot to seek approval of the shareholders of the Company to amend the Articles of Association of the Company; and
8. Reconstitution of the Audit Committee, Stakeholders' Relationship Committee, Corporate Social Responsibility Committee, Nomination and Remuneration Committee, Risk Management Committee and the ESOP Compensation Committee.
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