Dev Information Technology Limited — Board Meeting, 25-11-2024: Outcome of Board Meeting

The Board of Directors of Dev Information Technology Limited has approved a split of existing equity shares from a face value of ₹5 to ₹2, subject to shareholder approval at the upcoming Extra Ordinary General Meeting (EGM) on December 20, 2024. The board also altered the capital clause of the Memorandum of Association accordingly, increasing the authorized share capital to ₹20 crore, now divided into 10 crore shares of ₹2 each. Notice for the EGM has been formulated, and December 13, 2024, will serve as the cut-off date for e-voting. The board also proposed to appoint Mr. Bhavin Sanjaybhai Bhagat as an Independent Non-Executive Director for a five-year term.