Cybermate Infotek to raise funds through issue of securities

Cybermate Infotek Ltd has announced that the Board of Directors of the Company at its meeting held on June 09, 2007, inter alia, has taken the following decisions:

1. To increase the authorized share capital from the present Rs 15 Crores divided in to 1,50,00,000 equity shares of Rs 10/- each to Rs 85 crores divided in to 8,50,00,000 equity shares of Rs 10/- each.

2. The Board has decided to convene an Extraordinary General Meeting of the Members on July 05, 2007 to obtain the necessary approvals under the Companies Act, 1956 for raising funds to meet the requirements of the Company, by issue of Securities such as:

(i) FCCB's
(ii) GDR's/ADR's
(iii) Preferential Allotment of Shares to Qualified Institutional Buyers.

Source : Equity Bulls

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