This Article is From Nov 26, 2011

ORACLE FINANCIAL SERVICES SOFTWARE LTD. - Outcome of AGM

Oracle Financial Services Software Ltd has informed BSE that the members at the 22nd Annual General Meeting (AGM) of the Company held on August 18, 2011, inter alia, have passed the following resolutions:  1. Adopted the audited Balance Sheet as on March 31, 2011, the Profit and Loss Account for the year ended on that date and the Reports of the Board of Directors and the Auditors thereon.  2. Re-appointed Mr. Derek H. Williams and Mr. William T. Comfort, Jr., as Directors liable to retire by rotation.  3. Appointed M/s. S. R.  Batliboi & Associates, Chartered Accountants as Statutory Auditors of the Company from the conclusion of this AGM till conclusion of next AGM and authorized the Board to fix their remuneration.  4. Authorized the  Board  of Directors to  appoint  Branch  Auditors of the Company.  5. Appointed Mr Chaitanya Kamat, Mr. S. Venkatachalam and Mr. Robert K. Weiler as Directors, liable to retire by rotation.  6. Approved the appointment and remuneration of Mr. Chaitanya Kamat as the Managing Director & CEO of the Company for a period of three years ending October 24, 2013.  7. Authorized the Board to pay Commission not exceeding 1% per annum of the net profits of the Company, to the Non-Executive Directors of the Company for a further period of five years from April 01, 2012 to March 31, 2017.  8. Authorized the Board to grant stock options to the present and future employees and Directors of the Company and its subsidiaries companies, which could give rise to equity shares of face value of Rs. 5/- each of the Company, not exceeding 12.5% of the issued and paid-up share capital of the Company at any given time.  9. Approved the resolution concerning the retirement of Ms. Dorian Daley and not filling in the vacancy at the current AGM.

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