Infotrek Syscom to issue warrants to Bennett, Coleman & Co

Infotrek Syscom Ltd has announced that the Board of Directors of the Company at its meeting held on December 12, 2007, has considered and decided to convene the Extra Ordinary General Meeting of the Company will be held on January 12, 2008.

Estimating huge requirement for funds for the various expansion plans undertaken by the Company, the Board in its meeting recommended to issue, offer and allot 600,000 convertible warrants of Rs 90 each, convertible in to equal number of Equity Shares of a face value of Rs 10 each at a premium of Rs 80 per share, subject to necessary statutory and General Body approval, to M/s. BENNETT, COLEMAN & CO. LTD and 19 lacs convertible warrants of the Company at a price of Rs 90 per warrant convertible in to equal number of Equity Shares on being fully paid at a premium of Rs 80 per share of Rs 10 face value per Equity Share to M/s. First Online Comtrades Pvt Ltd, a promoter group Company, subject to necessary statutory and General Body approval.

The Board of Directors of the Company is of the opinion to form another subsidiary to invest in stocks, shares, mutual funds, real estates and other financial activities subject to necessary statutory and General Body approval.

Source : Equity Bulls

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