California Software allots 925000 equity shares

California Software Company Ltd has announced that the Allotment Committee meeting of the Board of Directors of the Company held on August 17, 2007, has approved the issue and allotment of 9,25,000 equity shares to M/s. Kemoil Ld (promoter group entity) upon conversion of 83,25,000 FCD's held by them as per terms of conversion.

The FCD's were issued on preferential on October 30, 2006 based on shareholders approvals at the EGM held on October 16, 2006 and in-principle approvals obtained from the stock exchanges. The equity Shares are allotted at a price of Rs 90/- per share (including premium of Rs 80/- per share) as per conversion terms.

Source : Equity Bulls

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