PREFERENTIAL ISSUES
Telesys Software: The consent of the board has been accorded to issue and allot on preferential basis 1,32,25,350 equity shares of Rs 10 each fully paid as under: 29,11,800 equity shares to shareholders of Scribe Solutions as a consideration for the acquisition by the company of 100 per cent of the share capital of Scribe Solutions at an exchange ratio of three fully paid equity shares of the company to every holder of one fully paid equity share of Scribe Solutions.
34,00,000 equity shares to the shareholders of Aavishkar Software Ltd as a consideration for the acquisition by the company of 100 per cent of the share capital of Aavishkar Software at an exchange ratio of two fully paid equity shares of the company to every holder of one fully paid equity shares of Aavishkar Software.
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34,57,300 equity shares to the shareholders of Millennium Web Solutions as a consideration for the acquisition by the company of 100 per cent of the share capital of Millennium Web Solutions at an exchange ratio of seven fully paid equity shares of the company to every holder of two fully paid equity shares of Millennium Web Solutions.
34,56,250 equity shares to the shareholders of Sun Java Solutions as a consideration for the acquisition by the company of 100 per cent of the share capital of Sun Java Solutions at an exchange ratio of seven fully paid equity shares of the company to every holder of two fully paid equity shares of Sun Java Solutions. The company has further informed that the equity shares so issued shall rank pari-passu with the existing equity shares of the company.
GDR Telefilms: The board on June 19, 2002, allotted 30,00,000 equity shares of the company of Rs 10 each on preferential basis involving swap of equity shares to A N Badrinath and associate shareholders of Siliconcity Technologies aggregating to Rs 3,00,00,000 in the equity swap ratio of 12:1 ie, for every one equity share of Rs 10 each held in Siliconcity Technologies 12 equity shares of Rs 10 each of the company have been allotted to the shareholders of Siliconcity Technologies.
Visesh Infosystems: The board on June 18, 2002 discussed the following items details of which are given under: To acquire the business of Infotecnics India Ltd; To issue shares on preferential basis; To amend the articles of association of the company by insertion of clause for providing for buy-back of shares; To increase the authorised capital of the company; To appoint Sanjiv Bhavnani as joint managing director; To call an extra-ordinary general meeting and to fix the date and venue for the same. Since the decision on acquisition of business of Infotecnics India has been deferred as certain financial information was required and the increase in authorised capital, appointment of joint MD, and calling of EGM are relating to the main item (acquisition of business), the board decided the decision on above items would be taken in the next meeting.
Velvette International Pharma Products: The board met June 19, 2002 and decided to issue equity shares on preferential basis at a price arrived as per SEBI regulations. It also decided to issue equity shares to employees under employees stock option scheme. It has convened an EGM on July 19, 2002.
Ancent Software International: Pursuant to the resolution passed by the members in EGM held on 21.03.02, the board has allotted 5 lakh equity shares of Rs 10 each on preferential basis, in the board meeting held on 17-06-2002.
SHARES EXTINGUISHED
Great Eastern Shipping Co: The company has extinguished 602284 equity shares of the company pursuant to buy back. Equity capital of the company after the said extinguishment stands reduced to 190542618 shares.
John Fowler (India): The company has informed that, on 13.06.02 it extinguished 9040 shares of the company under buy back regulations.
Kesoram Industries: The company has extinguished 518048 shares on 12.06.02 of the company pursuant to buy back. Equity capital of the company after the said extinguishment is 46460696 shares.
STOCK OPTIONS
Associated Cement Companies: Pursuant to the resolution passed by circular dated June 10, 2002, by the Shareholders/Investors Grievance Committee, 12100 shares were allotted against exercise of stock options granted to employees under the Employees Stock Option Plan 2000. Consequently the paid up share capital of the company has increased from 1,70,811,885 shares as on May 16, 2002 to 1,70,823,985 shares of Rs 10 each as of date.
PRODUCT LAUNCHES, TIE-UPS
Hughes Software Systems (HSS): The company on June 19, 2002 announced an agreement with NEC Corporation, the world