Prism Informatics to consider allotment of shares

A meeting of the Board of Directors of Prism Informatics Ltd will be held on April 29, 2013, to consider the acquisition of stake and preferential issue.

The company by an announcement dated April 24, 2013 intimated exchange about the agreement between Prism India and Antleg Cyprus Limited (Antleg) for acquisition of 17.25% stake in Idhasoft Limited (IDHA) by Prism India from Antleg at the net consideration of USD 2 Million and the proposal of Prism India to allot such number of Equity shares of Prism India to Antleg, in lieu of said net purchase consideration of USD 2 Millions, at the issue price of Rs. 35/- per share or such other price as may be determined in accordance with the provision of SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2009 subject to approval of Shareholders of the Company, Foreign Investment Promotion Board (FIPB) and Stock Exchange. Members of Board shall consider and approve the above contemplated transaction.

The Board shall consider allotment up to 4,00,000 equity shares of Re. 1/- each to Mr. Thomas Foley, Foreign national at the issue price of Rs. 35/- per share or such other price as may be determined in accordance with Regulation 76 of SEBI (Issue of Capital and Disclosures Requirements) Regulations, 2009 subject to the approval of Shareholders and other regulatory authorities.

The Board will also consider appointment of D Kothary and Co., Chartered Accountants as an Internal Auditor of the Company for the FY 2013-2014.

Shares of Prism Informatics Ltd was last trading in BSE at Rs.31.20, up by Rs.1.30 or 4.35%. The stock hit an intraday high of Rs.31.20 and low of Rs.31.20.

The total traded quantity was 5 compared to 2 week average of 5.

Source : Equity Bulls

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