Sasken Communication Technologies Ltd has informed BSE that the members of the Company, by way of Postal Ballot, have approved the resolution relating to create, offer, issue and allot from time to time, 300,000 (Three Lakhs) warrants in the aggregate in one or more tranches on a preferential basis, with an option to convert into equal number of equity shares to Mr. Rajiv C Mody, Chairman & Managing Director of the Company, in such manner and on such terms and conditions and at such price as may be determined by the Board in its absolute discretion; provided that the aggregate number of resultant equity shares of the Company to be issued against warrants shall not exceed 300,000 fully paid equity shares of Rs.10 each, at a minimum price not less than the price determined in compliance with the ICDR Regulations or other provisions of law as may be prevailing at the time, subject to necessary provisions and approvals, with requisite majority.
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