Held on 07 January 2016
Jenson & Nicholson (India) announced that the Board of Directors of the Company at its meeting held on 07 January 2016, has passed following Resolutions:1. As per Sections 149 and 161 and other applicable provisions, if any, of the Companies Act, 2013 and SEBI (LODR), Regulations, 2015, Ajay Kumar Srivastava has been appointed as Additional Director of the Company to act as Independent Director.
2. Board considered and ratified the Trademark License cum Assignment Agreement executed by and between Jenson & Nicholson (I), Jenson & Nicholson Paints (Wholly owned subsidiary) and Vivid Colors on 21 December 2015.
3. Board considered and approved draft Share Subscription, Share Allotment and Shareholders Agreement to be executed between Jenson & Nicholson (I), Jenson & Nicholson Paints (Wholly owned subsidiary) and Investors. By virtue of this Agreement shareholding of Jenson & Nicholson (I) and Investors in Jenson & Nicholson Paints (Wholly owned subsidiary) will result in 55% and 45% of total share capital respectively. Further Board authorized Managing Director to execute/sign the said Agreement.
4. Board took note of the resignation letter tendered by Ranjit Singh, Director of the Company.
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