News August 05, 2012

R Systems Announces the outcome of meetings of Board of Directors

Noida, August 05, 2012 : The Board of Directors of R Systems International Limited at its meeting held on August 05, 2012 has inter alia approved the following:

  1. Allotment of 28,750 equity shares of Rs. 10/- each at the price of Rs. 120.70 per share pursuant to the exercise of the stock options granted to the employees of the Company & its subsidiaries under R Systems International Limited Employee Stock Option Scheme 2007.
  2. Appointment of Mr. Anuj Kanish as member of Audit Committee, Remuneration Committee and Committee of Independent Directors for Open Offer, as an Alternate Director to Mr. Gurbax Singh Bhasin-Non Executive Independent Director.

Further, the Committee of Independent Directors for Open Offer at its meeting held on August 05, 2012 discussed, analysed and approved updation in the reasoned recommendations on the Open Offer given by Mr. Bhavook Tripathi for acquisition of 26% Equity Shares of R Systems International Limited pursuant to Public Announcement dated December 15, 2011, Detailed Public Statement dated December 22, 2011, Draft Letter of Offer and Supplemental Public Announcement dated March 13, 2012 in accordance with the provisions of Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. The recommendations of the Committee of Independent Directors on Open Offer shall be published in the newspapers and a copy thereof shall be furnished to the Securities & Exchange Board of India, the Stock Exchanges and the Manager to the Open Offer in due course, in accordance with Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.

For further information please contact:
Vikash Kumar Tiwari (Tel No. 0120 - 4082 633)

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