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Astec Lifesciences announced that the Board of Directors of the Company at its meeting held on 04 May 2016, inter alia, have considered the following:
1. On recommendation of the Nomination and Remuneration Committee the Board of Directors has appointed Arijit Mukherjee as a Whole Time Director of the Company with immediate effect, subject to approval of Shareholders;
Further, the Compensation Committee at its Meeting held 04 May 2016 has allotted 27,600 Equity Shares of Face Value Rs. 10/- each to the employees of the Company on exercise of Options granted to them, at an exercise price of Rs. 34/- per Equity Share, under Astec Employee Stock Options Plan, 2012, as fully paid-up.
The above 27,600 Equity Shares would rank pari passu with the existing Equity Shares of the Company in all respects including dividend entitlement.
With this allotment the total paid-up capital of the Company stands at Rs. 19,48,26,550/- (Rupees Nineteen Crore Forty Eight Lac Twenty Six Thousand Five Hundred and Fifty Only) (divided into 1,94,82,655 Equity Shares of Rs.10/- each).
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