Cranes Software Board recommends 50% dividend

Cranes Software International Ltd has announced that the Board of Directors of the Company at its meeting held on June 28, 2007, inter alia, has transacted the following:

1. Recommended (subject to approval of the share holders) an equity dividend, as follows:
Regular dividend of 20% & a Special dividend of 30%, thereby aggregating to 50% (Re 1/- per share) for the year 2006-07.

2. Acquisition of the equity shares of Proland Systems Pvt Ltd thereby making it a wholly owned subsidiary of the Company. The investment would entail about Rs 200 mio in acquisition cost and immediate investments.

3. Acquisition of equity shares of Caravel Info Systems Pvt Ltd., thereby making it a wholly owned subsidiary of the Company. The investment would entail about Rs 100 mio in acquisition cost and immediate investments.

Source : Equity Bulls

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