Sanra Software allots shares, warrants at Rs 55

Sanra Software Ltd has announced that the Board of Directors of the Company at its meeting held on November 09, 2007, has approved the allotment of 5,30,000 equity shares of Rs 10/- each on preferential basis at the price of Rs 55/- per equity shares (including premium of Rs 45/- per share) aggregating to Rs 2,91,50,000/- and allotment of 16,70,000 fully convertible warrants on preferential basis to the following person(s) / Corporate Bodies and in respect of which the Company has received intent letter front the respective person(s)/Corporate Bodies:

1. Taraka Rama Raju Alluri
No of Shares: 50000
No of Warrants: Nil

2. G Bala Reddy
No of Shares: 30000
No of Warrants: 20000

3. Regal Corporate Advisors Pvt Ltd
No of Shares: 200000
No of Warrants: 200000

4. Advent Advisory Services Pvt Ltd
No of Shares: 220000
No of Warrants: 500000

5. G Swaminathan
No of Shares: Nil
No of Warrants: 30000

6. Knack Corporate Services Pvt Ltd
No of Shares: Nil
No of Warrants: 200000

7. Honey Bee Securities Ltd
No of Shares: Nil
No of Warrants: 200000

8. AARRKAYS Energy Systems Pvt Ltd
No of Shares: Nil
No of Warrants: 100000

9. Uma Kartikeyan
No of Shares: 15000
No of Warrants: 85000

10. Sukumar Subramanian
No of Shares: 15000
No of Warrants: 85000

11. Raghu Tandra
No of Shares: Nil
No of Warrants: 100000

12. Mrs. M S Bhuvaneswari
No of Shares: Nil
No of Warrants: 75000

13. Mrs. B Geetha
No of Shares: Nil
No of Warrants: 75000

The Board also decided to hold an extra-ordinary general meeting of the Company on December 04, 2007 and approved the notice calling for the above meeting.

The Board of Directors also approved appointment of Mr. A Venkatramani as additional director of the Company and also as a Non-Executive Chairman of the Company.

The Board also accepted resignation of Mr. Sanjay Bhardwaj Whole-Time Director of the Company from the Board of Directors of the Company with immediate effect.

The stock was trading at Rs.58.90, up by Rs.2.80 or 4.99%. The stock hit an intraday high of Rs.58.90 and low of Rs.54.

The total traded quantity was 9002 compared to 2 week average of 34648.

Source : Equity Bulls

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