Cambridge Technology to issue warrants, invest US$ 2 Million

Cambridge Technology Enterprises Ltd has announced that the Board of Directors of the Company at its meeting held on November 07, 2007, has approved the following:

1. To re-consider and approve afresh the issue and allotment of 42,50,000 Convertible Equity Warrants on preferential basis to M/s. Rosebury Investments Pte Ltd and M/s. Prime Genius Investments Pte Ltd subject to the approval of shareholders.

2. To Convene an Extraordinary General Meeting of shareholders on December 08, 2007 for the purpose as mentioned in point 1 above.

3. To further invest USD upto 2 million in the wholly owned subsidiary of the Company viz., M/s. Cambridge Technology Enterprises Inc., USA (CTE Inc.,) by way of additional subscription of Shares.

Source : Equity Bulls

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