September 15, 2008
Company has declared Postal Ballot Result on September 15, 2008. For result see related downloads.
August 12, 2008
Company has dispatched Postal Ballot Notices to its Shareholders on August 09, 2008. For notice see related downloads.
July 30, 2007
The Board in its meeting held on July 30, 2007 had taken on record the un-audited Quarterly results of the company for the Quarter ended on June 30, 2007, after review by Audit Committee and limited review of auditors.
The Board allotted 13800 fully paid up shares of Rs.10/- each at a premium of Rs.109.58 per share for cash to employees of the company on exercise of options granted on April 12, 2006 in accordance with KLG Employee Stock Option Scheme, 2005.
The Board also appointed Mr. Mukesh Arora, present CEO of the company as Whole Time Director of the company with effect from August 01, 2007.
July 23, 2007
KLG Systel Ltd. joins the league of Top IT Brands: Ranked 43 on the market cap index at Rs.430 crore, by IT magazine DATAQUEST (a cyber Media Publication), KLG Systel makes its presence felt among the premier league of TOP 200 Indian IT Brands. DQ Top 200 ranking is in all practicality the only such ranking available on and accepted by the Indian IT industry. Making space for itself among the barons of this industry – TCS, Infosys, Wipro, etc. – KLG Systel has emerged as a strong contender in the specialized products space in its own right. The company stands apart from the general trend that the DQ Top 200 reflects of the industry’s larger export orientation and a ‘services’ phenomenon. KLG Systel has been identified as a company whose focus is the Indian market and ‘rising high on the domestic turf’. KLG Systel is ranked fourth in revenue generation during the fiscal 2006-07 as compared to 2005-06 with a growth of 136%. The company secured this position based on its deep domain expertise and its relentless R&D; and continuous growth.
July 02, 2007
The Company’s Power Systems and Solutions Division has developed the portfolio of SG61, Vidushi and Connectgaia.com technologies on IBM Websphere platform for addressing the AMR, AMM, Power Utility, Power Distribution & Optimization and Demand Side Management Market. As a Partner of SAP India, KLG has also achieved SAP’s “Powered by Netweaver” and “Certified on Netweaver” certification for its Vidushi and SPInterlink software. The company recently bagged two major orders from Shree Cements and Jamshedpur Utilities and Services Company Limited (JUSCO) for approximately Rs 4 Crores. JUSCO is a subsidiary of Tata Steel. All the technologies developed by KLG shall be used as part of three projects. The adoption of the company’s technology by large private sector enterprises is a major landmark for KLG in the Power Sector and a significant development”.
June 22, 2007
KLG Systel Ltd. announced that the company has reconstituted its Board of Directors to meet its challenging growth opportunities and to strengthen the Board.
The following new directors have been inducted in the Board as independent non executive directors:
1. MR. PRABIR SENGUPTA: Former Director of Indian Institute of Foreign Trade, Former Secretary to Government of India in various Ministries such as Ministry of Commerce and Industry, Ministry of Defence, Ministry of Petroleum and Natural Gas etc.
2. MR. SUBIR RAHA: Former Chairman & Managing Director of ONGC.
3. MR. V. S. JAIN: Former Chairman & Managing Director of SAIL.
4. MR. B. D. GUPTA: Former Director (Finance) of Indian Oil Corporation Ltd.
The new directors inducted by the company in its Board have a vast experience and proven knowledge in their respective fields.
June 21, 2007
The Board of Directors of the Company in its Meeting held on June 20, 2007 have allotted 5,00,000 (Five Lacs only) warrants to the strategic investors of the Company namely Godman Sachs (Asia) Finance – 350,000 warrants and BNP Paribas Arbitrage Ltd. – 150,000 warrants in compliance with the Special Resolution passed at its Annual General Meeting of the Company held on June 07, 2007 on Preferential basis @ 362 per warrant convertible at the option of the warrants holder into equity shares of Rs. 10/- each at a premium of Rs. 352/- per share, within a period of 18 months from the date of allotment, in accordance with the provision of Chapter XIII on preferential issues of SEBI (Disclosure and Investor Protection) Guidelines, 2000 in this behalf.
March 27, 2007
Pursuant to the special resolution passed by the shareholders of the Company at its EGM held on February 10, 2007 the company has raised US$22 million by way of issuing Foreign Currency Convertible Bonds. The issue closed on Monday, March 26, 2007. Consequently, the Board of Directors has allotted 2200 Foreign Currency Convertible Bonds of US$ 10,000 each to Goldman Sachs International. The FCCBs will be listed on the Singapore Stock Exchange. Elara Capital Plc, London has been the sole Lead Manager and book runner for the issue”.
March 12, 2007
The Board of Directors of the Company in its meeting held on March 12, 2007 had declared an Interim Dividend of 25% i.e. Rs. 2.5 per shares to be paid to equity shareholders as on record date i.e. March 23, 2007.
Februrary 26, 2007
The Board of Directors in its meeting held on February 24, 2007 have appointed Mr. Prabir Sengupta as additional Director of the Company in the capacity of an Independent and Non-executive Director with effect from February 24, 2007.
February 12, 2007
The Shareholders of the Company in its Extra ordinary General meeting held on February 10, 2007 had passed the following Special Resolution as per the Notice of the EGM : (1) Aurthorization to Company u/s 81(1A) of the Companies Act, 1956 to raise an amount not exceeding US Dollars 25 Million (United States Dollars Twenty Five Millions only) from Overseas/Domestic Market by issue of ADR/GDR/FCCB or other financial instruments, subject to the compliance of provision of various Laws rules, regulations as may be applicable and subject to the consents/approvals from appropriate authorities in India/Overseas.
January 18, 2007
The Board of Directors of the company in its meeting held on January 17, 2006 at Gurgaon had passed the resolutions for Allotment of 10,70,000 (Ten Lacs Seventy Thousand only) warrants to the promoters of the company on Preferential basis @ Rs. 261/- per warrant convertible at the option of the warrant holder into equity shares of Rs. 10/- each at a premium of Rs. 251/- per share, which is arrived at in accordance with Chapter XIII of SEBI (DIP) guidelines on Preferential issues, which was earlier approved by the shareholders in its Extra Ordinary General Meeting held on January 05, 2007.
January 05, 2007
The Shareholders of the Company in its Extra Ordinary General meeting held on January 05, 2007 at Gurgaon had passed the resolution as per the Notice of the EGM for following purposes: (1) Appointed Mrs. Ritu Goel as Director of the company under section 257 of the companies Act, 1956 who was earlier appointed as Additional Director of the company by the Board of Directors in its meeting held on October 19, 2006. (2) Approval of appointment of Mrs. Ritu Goel as Whole Time Director designated as Director (Business Development) and approving her remuneration w.e. f. October 19, 2006. (3) Authorization to Company u/s 81(1A) of the Companies Act, 1956 to issue 10,70,000 (Ten Thousand Seventy Lakhs only) warrants to the promoters of the Company namely Mr. Kumud Goel, Mrs. Upasana Goel, Mrs. Ritu God and Mrs. Pushap Lata Goel and KLG Computers Private Ltd. on preferential basis @ Rs.261/- per warrant convertible at the option of the warrant holder into equivalent number of equity shares of Rs. 10/- each at a premium of Rs. 251/- per share, being the price with respect to the relevant date, i.e., December 05, 2006, being the date 30 days prior to the date of Extra ordinary general meeting of shareholders i.e. January 05, 2007, in accordance with the provisions of Chapter XIII on preferential issues of SEBI (Disclosure and Investor Protection) Guidelines, 2000 in this behalf.
November 09, 2006
The Board of Directors of the Company in its meeting held on November 09, 2006 have resolved to allot 4,00,000 (Four Lacs Only) shares to the promoters of the Company namely Sh. Kumud Goel, Smt. Upasana Goel, Smt. Ritu Goel and Smt. Pushap Lata Goel in accordance with the special resolution of EGM held on May 11, 2006, arising after conversion of warrants earlier allotted in the meeting of BoDs held on May 23, 2006.
October 19, 2006
The Board of Directors in its meeting dated October 19,2006 have appointed Mrs. Ritu Goel as Whole Time Director of the company with effect from October 19,2006.
September 27, 2006
The company has been awarded the execution of an order worth Rs 240 Million. Using its SG61 technology, the company has proposed Feeder Renovation program, which has been accepted by the Punjab and Rajasthan Government. The company has won two orders, from Jaipur Vidyut Vitran Nigam Limited for Rs 190 million and from Punjab State Electricity Board for an order value of Rs 50 million. As part of this program, the company has been nominated to reconfigure 11 KV feeders for areas of Bharatpur for Jaipur Vidyut Vitran Nigam Limited. The System will cover a total of thirty one 11 KV feeders serving 15000-20000 consumers in these areas. It will increase reliability of supply to the domestic consumers in terms of reduced outages and load shedding. The said project is expected to be completed in ten months period. The company has also been appointed by the Punjab State Electricity Board to carry out Meter reading & Energy Reconciliation of Agriculture Power Consumers for 53000 connections.
September 09, 2006
The Company has raised US$ 7,499,700.00 by way of issuing 2,307,600 Global Depository Receipts in the International markets. The Global Depository will be listed on the Luxembourg Stock Exchange. Elara Capital Advisers Limited acted as Lead Manager for the Issue.