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Spice Mobility Ltd. Company History and Annual Growth Details

YEAR EVENTS
1986 - The Company was incorporated on 23rd December, and the
Certificate of Commencement of Bussiness was obtained on 25th
March 1988. It was promoted jointly by Modi Rubber, Ltd. Indian
Reprographic Systems Pvt. Ltd. and others. The Company was
licenced to manufacture mini computer/micro processor based
system.

- The Company entered into a technical and financial collaboration
with Ing. C. Olivetti & C., S.P.A. (Olivetti) and Olivetti
International, a wholly owned subsidiary of Olivetti. As per the
agreement, Olivetti were to provide training in Italy to
technical personnel of the Company regarding manufacturing,
testing and repairing of licenced products and the use of tooling
and equipments supplied by Olivetti.

- The Company undertook to set up a Rs.25 crore project for the
manufacture of the state-of-the-art computers which comprise the
Olivettis M-250 and M-380 series. These were based on Surface
Mounted Technology (SMT). The Company's M-250 personal computer
is based on Intel 80286 chip with graphics VGA compatible
controller and 101 keyboard supporting MS DOS OS/2 and Zerix
operatiing system. The M-380 Tower Model is based on Intel 80386
chip with graphics VGA compatible controller and 101 keyboard
supporing zerix besides MS DOS and OS/2.

1989 - 700 signatories to Memorandum of Association. 124,99,300 shares
then issued at par out of which shares reserved and allotted
were:

- (i) 50,00,000 shares to Ing. C. Olivetti & C., S.P.A. Italy and

- (ii) 49,99,300 shares to Modi Rubber, Ltd., Indian Reprographic
Systems Pvt. Ltd. and Indian resident directors, their friends
etc.

- Another 6,25,000 shares werer reserved for preferential allotment
to employees, etc, of the Company and those of promoter companies
but only 3,39,400 shares taken up. The balance 18,75,000 shares,
along with 2,85,600 shares not taken up by employees, were
offered to the public in October, (all were taken up).

1991 - On 31st March, the Company offered 52,50,000 No. of Equity shares
of Rs.10 each for cash at par as follows:

- (i) 50,00,000 No. of equity shares offered as rights to equity
shareholders in the ratio of 2:5 and

- (ii) 2,50,000 No. of equity shares were reserved for allotment to
the employees (including Indian working directors)/workers of the
Company on an equitable basis.

- In October 50,00,000 rights equity shares offered at par in
prop. 2:5. Another 2,50,000 shares offered at par to employees
but only 1,59,500 shares taken up.

2002- a communication issued to, Modi Olivetti Ltd has informed that Mr Raghu Murti, Mr Deepak Mohla and Mr R S Desikan resigned as Directors of the Company and in their place Mr Dilip Modi, Mr Ravinder Lal Ahuja and Mr Vinod Sawhny are appointed as Directors in the Board Meeting held on February 11, 2002.

-Modi Olivetti Ltd has informed that Mr M V Rama Kath has resigned as the Company Secretary of the Company and Ms Preeti Malhotra, presently director has also been appointed as the Company Secretary of the Company.

2004

-The company has acquired the shares of Graphtech India Ltd., (GIL), an unlisted company on March 24, 2003, in the following manner:-

9,99,699 (49.98%) equity shares of GIL from MCorpGlobal Pvt. Ltd., at a consideration of Re.1/-.

5000 equity shares allotted by GIL to the company at par i.e. Rs.10/- per share fully paid up.

Post allotment, the company's stake in GIL amounts to 50.11% of the total paid up capital (post allotment) of GIL.

-Delists from Uttar Pradesh Stock Exchange (UPSE) with effect from August 27, 2004

2005

-Spice Net appoint Mr. Kunal Ahooja as CEO

2007

-Spice Ltd has informed that the Board of Directors of the Company vide resolution passed by circulation on March 09, 2007, has accorded their consent for the change in name of the Company from 'SPICE LTD' to 'SPICE MOBILES LTD'or such other name as may be approved by the Registrar of Companies, U.P.

- Spice Mobiles Ltd has informed that the Board of Directors of the Company at its meeting held on October 27, 2007, has appointed Mr. Krishan Lal Chugh as NonExecutive Independent Director on the Board of the Company.

2010

- Spice Mobiles has unveiled its new handset, S-1200, offering advanced camera functionalities.
 
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