Micro Technologies to allot shares to Bennett, Coleman & Co

Micro Technologies India Ltd has announced that the Board of Directors of the Company at its meeting held on July 20, 2007, inter alia, has discussed the following:

1. Approved the allotment of 2,50,000 equity shares of Rs 10/- each to M/s. BENNETT, COLEMAN & CO. LTD., at a price of Rs 250.40/- on preferential allotment basis, members approval of which already been obtained vide their meeting held on date June 23, 2007.

2. Approved the allotment of 9,00,000 warrants to M/s. Micro Associates Consultancy (I) Pvt Ltd. at Rs 250.40/- per warrant with the option to convert one warrant in to one equity share, on preferential allotment basis, members approval of which already been obtained vide their meeting held on date June 23, 2007.

3. Considered the completion of FCCB issue procedure of US$ 15.00 Million.

Source : Equity Bulls

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