R Systems International to invest in R Systems Inc., USA, buy land in Noida

R Systems International Ltd has announced that the Board of Directors of the Company at its meeting held on September 29, 2006, inter alia, has approved the following:

Additional investment up to US$ 1 million in equity / loan of WebConverse, Inc., USA (wholly owned subsidiary company of the Company).

Additional investment up to US$ 2 million in equity / loan of R Systems, Inc., USA (wholly owned subsidiary company of the Company).

Adopted the change of name of WebConverse, Inc., USA from WebConverse, Inc. to R Systems Solutions, Inc. (wholly owned subsidiary company of the Company in USA).

Approved the investment in the industrial plot of approximately 5 acres in Phase-III, Noida, if the Company becomes the successful allottee under the Noida Authority Scheme code.

Source : Equity Bulls

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