Encore Software EGM approves issue of warrants

The members at the Extra-Ordinary General Meeting (EGM) of Encore Software Ltd held on March 30, 2007 have accorded to the following:

1. Authority to the Board to create, offer, issue and allot up to 32,60,500 Warrants on a preferential basis to certain strategic investors as exhibited below, ("Warrants") with each Warrant convertible into one Equity Share of the Company of nominal value of Rs 10/- each at a premium of Rs 27/- per Share so that the total number of Equity Shares to be issued by the Company upon conversion of the Warrants does not exceed 32,60,500 Equity Shares, on such terms and conditions as may be decided and deemed appropriate by the Board of Directors of the Company ("Board" which shall be deemed to include any duly authorised Committee thereof) at the time of issue or allotment, subject to necessary provisions & approvals.

a. Dr. Navaneeth Ainapur : 17,00,000 warrants
b. Mr. M Prakash : 10,72,000 warrants
c. Ms. Marita Adam : 10,000 warrants
d. Mrs. Sheela V K : 25,000 warrants
e. Mr. K Narayana Bhat : 1,53,500 warrants
f. Mr. U R Bhat : 3,00,000 warrants

2. Authority to the to create, offer issue and allot up to 17,88,000 Warrants on a preferential basis to following Promoters as exhibited below ("Warrants") with each Warrant convertible into one Equity Share of the Company of nominal value of Rs 10/- each at a premium of Rs 27/- per Share so that the total number of Equity Shares to be issued by the Company upon conversion of the Warrants does not exceed 17,88,000 Equity Shares, on such terms and conditions as may be decided and deemed appropriate by the Board of Directors of the Company ("Board" which shall be deemed to include any duly authorised Committee thereof) at the time of issue or allotment, subject to necessary provisions & approvals.

a. Mr. Vinay L Deshpande : 8,88,000 warrants
b. Mrs. Chhanda Deshpande : 9,00,000 warrants

Source : Equity Bulls

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