Sanra Software to consider preferential issue

Sanra Software Ltd has announced that a meeting of the Board of Directors of the Company will be held on November 09, 2007, inter alia, to consider allotment of shares and or warrants with the option to convert them into equity shares within 18 months at a price to be determined as per the guidelines in force, including those issued by Securities and Exchange Board of India (SEBI) through preferential offer and / or private placement basis to promoters, friends and associates, Foreign Institutional Investors, Financial Institutions, Bodies Corporate, Banks, Overseas Corporate Bodies, Non-Resident Indians, Foreign Nationals, Pension Funds, Mutual Funds or any other person(s) corporate body or bodies or their nominees irrespective of the fact whether or not such Allottees are holders of the equity shares of the Company as at the date of offer or allotment, subject to approval of shareholders in General Meeting and other authorities.

Further the Company has informed that, the Board will also decide the Notice for convening the Extraordinary General Meeting as well as the Time, Date and Venue of the Meeting.

The Stock closed on Friday at Rs.54.30, down by Rs.2.95 or 4.99%. The stock hit an intraday high of Rs.54.30 and low of Rs.54.30.

The total traded quantity was 16884 compared to 2 week average of 50017.

Source : Equity Bulls

Keywords