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Corporate Announcements
Scrip Code:532694 Company Name:BARTRONICSIN September, 10 2007 News Subject: Bartronics India - Outcome of AGM
News Body: Bartronics India Ltd has informed BSE that the members at the 16th Annual General Meeting (AGM) of the Company held on September 10, 2007, inter alia, have accorded to the following:
1. Adoption of the Balance Sheet as at March 31, 2007 and Profit and Loss Account for the year ended on that date as Audited and certified by the Company’s Auditors together with the Report of Auditors dated April 18, 2007 and Report of Directors dated July 30, 2007.
2. Re-appointment of Shri B Narayanswamy, as Director of the Company.
3. Re-appointment of M/s. Yaji Associates, Chartered Accountants, Hyderabad, as Auditors of the Company to hold office from the conclusion of this Annual General Meeting until the conclusion of the next Annual General Meeting of the Company, on remuneration, terms & conditions.
3. Appointment of Shri Y R Rao & Shri R Subramanian, as Directors of the Company, liable to retirement by rotation.
4. Increase in the remuneration payable to Shri Sudhir Rao, Managing Director w.e.f. July 01, 2007 for the balance period of tenure of his office.
5. Authority to the Board of Directors of the Company for borrowing from time to time all such sums of money as they may deem requisite for the purpose of the business of the Company notwithstanding that moneys to be borrowed together with moneys already borrowed by the Company (apart from temporary loans obtained from the Company’s bankers in the ordinary course of business) up to a limit not exceeding in the aggregate of Rs 500 Crores including Foreign borrowings like Foreign Currency Convertible Bonds, Foreign Currency Bonds etc. notwithstanding that moneys to be borrowed, together with the moneys already borrowed by the Company apart from temporary loans obtained from the Company’s Bankers in the ordinary course of business will exceed the aggregate of the paid up Capital of the Company and its free reserves, that is to say, reserves not set apart for any specific purpose, subject to necessary provisions and approvals.
6. Increase in the authorized share capital of the Company from Rs 40,00,00,000/- divided into 4,00,00,000 Equity Shares of Rs 10/- each to Rs 60,00,00,000/- divided into 6,00,00,000 Equity Shares of Rs 10/- each by further creation of 2,00,00,000/- Equity Shares of Rs 10/- each & consequential amendments in the Memorandum of Association of the Company and consequential amendments in Memorandum of Association of the Company.
7. Authority to the Board of Directors to issue, offer and allot in international offerings any security including, Global Depository Receipts (GDRs) and / or American Depositary Receipts (ADRs) convertible into equity shares, foreign currency convertible bonds (FCCBs), warrants, convertible into depositary receipts with underlying equity shares / equity shares (”Securities”) for an aggregate sum of up to US$ 50 million or equivalent in Indian / or any other currency(ies) with such premium as may be appropriate, directly to foreign / non-resident investors (where the institutions, bodies - corporate, mutual funds, trusts, foreign institutional investors, banks and / or individuals or otherwise and whether or not such investors are members, promoters, directors or their relatives / associates, of the Company) without first offering to the existing shareholders, through public issues, private placements or a combination thereof at such time or times in such tranche or tranches at such price or prices, at such premium as may be appropriate to market price or prices in such manner and on such terms and conditions as may be decided by the Board, wherever necessary in consultation with the lead managers, underwriters, advisors or through the subsidiaries, including by way of the initial public offer in Euro, US or other countries, so as to enable the Company to get listed at any stock exchanges in India and / or outside India, subject to necessary provisions and approvals.

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AMIT PATEL Geojit Financial Services Ltd. UB/3, Mangalmurti Complex, Rajmahel Road, Mehsana-384001 Phone:02762-326583, 223594 (M) 98244 34378 Save environment. Print this mail when its unavoidable.