California Software defers allotment to promoters

California Software Company Ltd has announced that the Board of Directors of the Company at its meeting held on October 30, 2006, inter alia, has approved the following:

1. Approval of allotment of 94,50,000 Fully Convertible Debentures (FCDs) of Rs 10/- each to M/s. Andorra Services Ltd, Hongkong, an associate Company of M/s. Kemoil Ltd subject to regulatory approvals as applicable.

2. Deferrement of allotment of 5,55,556 equity shares to 4 promoter shareholders of M/s. Inatech Infosolutions Pvt Ltd on preferential basis pending fulfillment of further formalities. The allotment will be done later after complying the guidelines / provisions on preferential issue.

Source : Equity Bulls

Keywords