Aptech board reconstituted to include SSI nominees

The board of directors of Aptech Ltd has been reconstituted to reflect SSI's investment in Aptech. The reconstituted board will have the following composition:

Kalpathi S Suresh, Non Executive Chairman, KS Aghoram, Non Executive Vice Chairman, KS Ganesh, Non Executive Director, DV Narasingarao, Non Executive Director, Pramod Khera, MD, V Balasubramanian, Executive Director, R Nagarajan, Non Executive Director, NS Kumar, Non Executive Director and TK Bhaskar, Non Executive Director.

On February 10, 2003, SSI Ltd had signed a Share Purchase Agreement to acquire the 27.18 percent promoter stake in Aptech Ltd. On February 14, 2003, SSI announced an open offer for the purchase of an additional 20 percent stake in Aptech Ltd. The offer opens on April 3, 2003 and closes on May 2, 2003. 

At a later stage, SSI plans to integrate its education and training business with Aptech Ltd.

"We thank the outgoing members of Aptech's board for their contribution to the company," said Kalpathi Suresh, Chairman and CEO, SSI Ltd, and non executive chairman, Aptech Ltd. "The reconstituted Aptech board reflects SSI's investment and commitment. As a next step, the board will work closely with the executive team to define an organizational structure that not only positions Aptech strongly for the future, but also paves the way for its integration with SSI's education and training business. This will make Aptech the largest IT training company in India and perhaps in Asia."

Cyber News Service