2016-17 Quarter 2 announcements
30 Sep, 2016
AGM 2016 - VOTING RESULTS
29 Sep, 2016
Sub: Regulation 30 of SEBI(Listing Obligations and Disclosure Requirements) Regulations 2015
Summary of the Proceedings of the 30th Annual General Meeting held on 29th September 2016
The 30th Annual General Meeting (AGM) of the Members of the Company was held today at 10.15 a.m. at “ The Music Academy”, Kasturi Srinivasan Hall ( Mini Hall), New No. 168, T.T.K.Road, Royapettah, Chennai- 600 014.
Mr. P.Murari, Chairman of the Company, occupied the Chair. He confirmed that the requisite quorum being present called the meeting to order.
The Chairman then delivered his speech.
Thereafter he invited comments and questions from the members.
Queries raised by the members were clarified/answered by the Managing Director to the satisfaction of the shareholders present at the meeting.
The Chairman informed the members that the following items of business were proposed in the notice convening the Annual General Meeting;
| S.No | Item of Business |
| 1 | Adoption of Audited Financial Statement for the year ended 31st March 2016 together with the reports of the Board of Directors and Auditors thereon. |
| 2 | Reappointment of Mr.P.Venkateswaran (DIN: 00379595) as a Director liable to retire by rotation |
| 3 | To ratify the appointment of Auditors. |
| 4 | Appointment of Mr. P.Venkateswaran as Deputy Managing Director and fixing the remuneration |
| 5 | Appointment of Mr.C.P.Gopalkrishnan as Deputy Managing Director and fixing the remuneration |
| 6 | Consent for issue of Foreign Currency Convertible Bonds (FCCBs)/Depository Receipts (GDRs)/American Depository Receipts (ADRs)/Warrants and/or other instruments convertible in equity shares. |
| 7 | Consent for issue of securities to Qualified Institutional Buyers. |
| 8 | Approval for amending the Exercise Period of ESOS |
| 9 | Approval for Stock Option Scheme, 2016 and grant to eligible employees/Directors |
| 10 | Approval for Stock Option Scheme, 2016 and grant to eligible employees/Directors of Subsidiaries (Present & Future) |
The chairman informed the members that the consolidated results of the e-voting and ballot voting would be announced within 48 hours of the conclusion of the meeting and also be intimated to the Stock Exchanges and posted on the website of the Company and National Securities Depository Limited.
The Chairman then thanked the members present and declared the meeting as closed. The meeting concluded at 11.10 A .M
29 Sep, 2016
Sale of 59% of Equity Shares held by Aban Offshore Limited in Aban Green Power Private Limited and Radhapuram Wintech Private Limited - subsidiaries of Aban Offshore Limited.
Pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015 please be informed that the Board of Directors of the Company at the meeting held today approved the sale of 59 % of equity shares held by Aban Offshore Limited in Aban Green Power Private Limited and Radhapuram Wintech Private Limited.
The details are as under:
ABAN GREEN POWER PRIVATE LIMITED
| S. No | Particulars | Details |
| a) | The amount and percentage of the turnover or revenue or income and net worth contributed by such unit of division of the listed entity during the last financial year | Rs.54.42 million |
| Percentage of turnover of Aban Green Power Private Limited against the turnover of Aban Offshore Limited | 0.54% | |
| Net worth of the Company | Rs.5.98 million | |
| Percentage of net worth of Aban Green Power Private Limited against Aban Offshore Limited | 0.017% | |
| b) | Date on which the agreement for sale has been entered into | 29-09-2016 |
| c) | The expected date of completion of sale/disposal | 31-12-2016 |
| d) | Consideration received from such sale/disposal | Will be Received |
| e) | Brief details of buyers and whether any of the buyers belong to the promoter/promoter group companies | Haryana Aban Power Company Limited. It is part of the Promoter Group companies. Mr. Reji Abraham and Mrs. Deepa Reji Abraham are the Promoters of the Company. They hold about 28.88% of the Shares of Haryana Aban Power Company Ltd. |
| f) | Whether the transaction would fall within related party transactions | No |
| g) | Whether the sale is in the nature of Slump sale | No |
RADHAPURAM WINTECH PRIVATE LIMITED
| S. No | Particulars | Details |
| a) | The amount and percentage of the turnover or revenue or income and net worth contributed by such unit of division of the listed entity during the last financial year | Rs.38.99 million |
| Percentage of turnover of Aban Green Power Private Limited against the turnover of Aban Offshore Limited | 0.38% | |
| Networth of the Company | Rs.18.62 million | |
| Percentage of networth of Aban Green Power Private Limited against Aban Offshore Limited | 0.053% | |
| b) | Date on which the agreement for sale has been entered into | 29-09-2016 |
| c) | The expected date of completion of sale/disposal | 31-12-2016 |
| d) | Consideration received from such sale/disposal | Will be Received |
| e) | Brief details of buyers and whether any of the buyers belong to the promoter/promoter group companies | Haryana Aban Power Company Limited. It is part of the Promoter Group companies. Mr. Reji Abraham and Mrs. Deepa Reji Abraham are the Promoters of the Company. They hold about 28.88% of the Shares of Haryana Aban Power Company Ltd. |
| f) | Whether the transaction would fall within related party transactions | No |
| g) | Whether the sale is in the nature of Slump sale | No |
10 August,2016
There will be an Analyst / Investors call on the financial results for the first quarter ended 30th June 2016 on August 12, 2016 at 04:30 PM (IST). Please click here for the details of the call.
03 August,2016
A Meeting of Board of Directors of the Company will be held on Friday, the 12th August 2016 to transact the following items.
· To consider and take on record the Unaudited Quarterly Standalone Financial Results of the Company for the period ended 30th June, 2016.
· To consider and take on record the Unaudited Quarterly Consolidated Financial Results of the Company for the period ended 30th June, 2016.
Further, the trading window will be closed from August 4, 2016 to August 12, 2016 (both days inclusive) in connection with the approval of the financial results and shall reopen after the expiry of 48 hours from the time of publication of results.