Friday, 17 October 2014

Infosys - Notice of Postal Ballot

Infosys Ltd has informed BSE that the members of the Company have passed the Resolutions by way of Postal Ballot.

Thursday, 16 October 2014

Infosys - Shareholding Pattern For September 30, 2014

Infosys Ltd has informed BSE about the Shareholding Pattern as on September 30, 2014.

Tuesday, 14 October 2014

Infosys Ltd. - Postal Ballot Updates

Infosys Ltd. has informed that the Postal Ballot Notice (seeking approval for issue of bonus shares) will be sent to the Members whose names appear on the Register of Members/List of Beneficial Owners as received from National Securities Depository Ltd. and Central Depository Services (India) Ltd. as on October 15, 2014. The Postal ballot Notice will be sent to Members in electronic form to their email address registered with their Depository Participant or the Company's Registrar and Share Transfer Agents. In case of Members whose email address is not registered, physical copy of Postal ballot Notice is being sent by along with a self-addressed Business Reply Envelope.

Friday, 10 October 2014

Narayan Murthy turns down offer to be Infosys’ chairman emeritus

Narayan Murthy has turned down the offer to become Infosys' chairman emeritus saying he wants to avoid conflicts at the firm he co-founded 33 years ago.
Mr Murthy, 68, will cease to be the non-executive chairman with effect from today.
He had indicated to the board that in line with the company's high corporate governance standards and to avoid any perceived conflicts, it would not be appropriate for him to be the chairman emeritus of Infosys. The board has accepted Mr Murthy's decision.
The company is also seeking regulatory guidance on appropriate classification of the founders and their family's share in the company (classified as promoters).
After Murthy's and S Gopalakrishnan's exit from Infosys, the founders don't have any association with the company nor they exercise any control over the affairs of the company.
"The founders have therefore requested to seek appropriate classification of their revised statuses," Infosys said in a statement.

Infosys - Outcome of Board Meeting


Infosys Ltd has informed BSE that the Board of Directors of the Company at its meeting held on October 10, 2014, inter alia, has transacted the following;

1. Mr. Narayana Murthy will cease to be Non-Executive Chairman effective October 10, 2014. He indicated that in line with the company's high corporate governance standards and to avoid any perceived conflicts, it would not be appropriate for him to be the Chairman Emeritus of Infosys. The Board accepted Mr. Murthy's decision and sincerely thanked him for his vision, leadership and guidance in making Infosys a globally respected Company.

2. Mr. S. Gopalakrishnan will cease to be the Non-Executive Vice Chairman effective October 10, 2014. The Board expressed its deep sense of appreciation for the services rendered by him during his tenure at Infosys.

3. Mr. K. V. Kamath has been elected as the Chairman of the Board effective October 11, 2014.

4. The Company has been classifying its founders, Narayana Murthy, Nandan Nilekani, S. Gopalakrishnan, S. D. Shibulal and K Dinesh along with their immediate family members as promoters/promoter group of the company in applicable disclosures with the stock exchanges (Clause 35) and other regulatory authorities. With the last two founders, Narayana Murthy and 
S Gopalakrishnan remitting office, the founders have neither association with the Company nor exercise any control over the affairs of the Company after the current date. The founders have therefore requested the Company to seek appropriate classification of their revised status. The Company is in the process of seeking appropriate regulatory guidance on the same.

Infosys - Fact Sheet, IFRS - INR Press Release & IFRS - USD Press Release


Infosys Ltd has informed BSE regarding :

1. IFRS - USD Press Release

2. IFRS - INR Press Release

3. Fact Sheet - Consolidated Financial Data - Second Quarter, Fiscal 2015

Infosys - Board approved Bonus Issue


Infosys Ltd has informed BSE that the Board of Directors of the Company at its meeting held on October 10, 2014, inter alia, has considered and approved and recommended a bonus issue of one equity share for every equity share held, and a bonus issue, viz., a stock dividend of one American Depository Share (ADS) for every ADS held, respectively, as on a record date to be determined. Consequently, the ratio of equity shares underlying the ADSs held by an American Depository Receipt holder would remain unchanged.

The Board approved and recommended the issuance in order to increase the liquidity of its shares and to expand the retail shareholder base.

The bonus issue of equity shares and ADSs will be subject to approval by the shareholders, through a postal ballot, and any other applicable statutory and regulatory approvals. Accordingly, the record date for the bonus issues of equity shares and ADSs will be announced in due course.