Systematix Corporate to issues shares, warrants on preferential basis

Systematix Corporate Services Ltd has announced that the Board of Directors of the Company at its meeting held on August 24, 2007, inter alia, has given approval for the following:

1. Increase of Authorised share Capital of the Company from Rs 10.00 Crore to Rs 25.00 Crore.

2. Issue of 40,00,000 Equity Shares of Rs 10/- each of the Company to promoters at a price of Rs 30/- per share on a preferential basis.

3. Issue of 76,21,200 warrants convertible into equity shares on a Preferential basis to the Promoters and other strategic investor.

4. The date of Annual General Meeting has been fixed on September 22, 2007 at which the above matters shall be proposed for the approval of members.

Source : Equity Bulls

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