General Announcement::Outcome of the Board Meeting held on June 29, 2018

Issuer & Securities

Issuer/ Manager
3I INFOTECH LIMITED
Securities
3IINFOTECH US$2.435MCB170726 - XS0308551166 - 3JDB
3IINFOTECUS$125.356M5%CB170426 - XS0769181982 - 2CCB
3IINFOTEUSD16.323M2.5%CB250331 - XS1423751418 - 66DB
Stapled Security
No

Announcement Details

Announcement Title
General Announcement
Date &Time of Broadcast
04-Jul-2018 19:21:51
Status
New
Announcement Sub Title
Outcome of the Board Meeting held on June 29, 2018
Announcement Reference
SG180704OTHRZYX8
Submitted By (Co./ Ind. Name)
3i Infotech Limited
Designation
Company Secretary
Description (Please provide a detailed description of the event in the box below)
The Company wishes to inform you that the board of directors of the Company ( the Board ) at its meeting today, June 29, 2018, approved the draft Scheme.

The Scheme, inter alia, provides for the following:
(a) Reduction of share capital of the Company on the Record Date (as defined in the Scheme). Such reduction shall be effected by reducing the face value of the equity shares of the Company from INR 10 to INR 1. The capital so reduced will be utilized to write off the accumulated losses of the Company.
(b) Subsequent to such reduction in face value of the equity shares of the Company, the Scheme provides for consolidation of 10 equity shares of the Company of INR 1 into one equity share of the Company of INR 10 each.

The Scheme as approved by the Board would be available on the website of the Company post filing of the same with stock exchanges. The Board s approval of the Scheme as aforesaid is subject to necessary approvals by the stock exchanges, SEBI, shareholders of the company, Mumbai Bench of National Company Law Tribunal and such other statutory and regulatory approvals as may be required.

In terms of the Listing Regulations read with Securities and Exchange Board of India Circular No. CIR/CFD/CMD/4/2015 dated 9th September, 2015, we are furnishing herewith the details of the Scheme as Annexure.

We request you to take the above for your records.

Attachments

sgx- capital reduction.pdf
Total size =1398K