Educomp Solutions Ltd has announced that the Board of Directors of the Company at its meeting held on June 02, 2008 has also decided, in addition to the use the proceeds of proposed GDR Issue for Company's Smart Class and ICT business segments (as approved by the shareholders in their resolution dated May 24, 2008), to take the approval of shareholders in the forthcoming Annual General Meeting of the Company for using the proceeds of proposed GDR Issue for following additional purposes:
To invest in Educomp Infrastructure Pvt Ltd, Educomp School Management Ltd for its K-12 initiatives and other subsidiaries for expansion of the Company's operations.
To use for Potential strategic acquisitions or joint ventures both domestic & overseas.
For Capital expenditure of Smart_Class (India & China ) and ICT Solutions in Fiscal Year 2010.
To look for Higher Education Initiatives / Vocational & Professional Education Initiatives in India.
such other purposes as may be permitted from time to time in compliance with applicable guidelines issued by the Reserve Bank of India and the Government of India.
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