Kushagra Software to consider de-merger

Kushagra Software Ltd has announced that a meeting of the Board of Directors of the Company will be held on September 24, 2007, inter alia, to consider the following:

1. To consider De-Merger of NBFC-Finance Activities into a separate entity in order to enable the Company to focus on Information Technology and Communication Technology Solutions, which includes print, advertising and media software / applications.

2. To consider inducting professional's as Independent Directors on the Board.

3. To consider issuance of equity shares on preferential basis for the purpose of strengthening the I.T / Communication Technology Solutions and to decide on the price and quantum of preferential issue.

4. To consider investments in M/s. Tara Advertising Associates Pvt. Ltd, M/s. Print Power Pvt Ltd, M/s. Shanti Arts Hi-Tech Medias Ltd. Also to discuss the mode of investment / instrument and quantum of investment and find suitable strategic fitments for Amalgamation / Mergers.

5. To decide on further strengthening the board by adding professional independent directors.

6. To Appoint M/s. Firstcall India Equity Advisors Pvt. Ltd as strategic and financial advisors / investment bankers for the said De-Merger, Preferential Issuance & for Assessing the viability of strategic fitments for Merger and Amalgamation of the Companies short listed for investments

Source : Equity Bulls

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