Northgate Technologies to consider issue of securities in overseas markets

Northgate Technologies Ltd has announced that a meeting of the Board of Directors of the Company will be held on July 07, 2007, inter alia, to consider the following:

1. To create, offer, issue and allot in one or more tranches, in the course of domestic / international offerings, equity shares and / or equity shares through Global Depository Receipts ("GDRs") and / or American Depository Receipts ("ADRs") and / or Foreign Currency Convertible Bonds ("FCCBs"), whether listed on any stock exchange inside India or any international stock exchange outside India, through an offer document and / or prospectus and / or offer letter and / or offering circular and / or information memorandum, and / or listing particulars, up to an amount not exceeding US$100 mn either in foreign currency or equivalent Indian Rupees inclusive of such premium as may be determined by the Board.

2. To increase the Authorized Share Capital to Rs 50 Crores from Rs 23 Crores.

3. To convene Annual General Meeting of the Company.

Source : Equity Bulls

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