Quintegra Solutions revises warrants price to Rs 135

Quintegra Solutions Ltd has announced that the Board of Directors of the Company at its meeting held on December 14, 2007, has finalized the allottees for the proposed issue of 27,00,000 warrants convertible into 27,00,000 equity shares of Rs 10/ each at a premium of Re 125/- per warrant on preferential basis to the following pursuant to SEB (Disclosure of Investor Protection) Guidelines, 2000 and subject to the approval of the shareholders in General Meeting:

1. Mr. V Shankarraman (Promoter) : 8,00,001 no of warrants

2. Mr. Murali Subrahmanyam (Others) : 8,43,599 no of warrants

3. Mr. K Srinivasan (Others) : 1,95,600 no of warrants

4. Mr. Diptaneal Roy (Others) : 65,200 no of warrants

5. Mr. Chandrakanth (Others) : 1,95,600 no of warrants

6. MAPE Advisory Group Pvt. Ltd (Others) : 3,00,000 no of warrants

7. Radar Estates Pvt Ltd (Others) : 3,00,000 no of warrants

Considering the interest of the Company, the Board had since revised the price upwards to Rs 135/- per warrant instead of Rs 126/- per warrant as intimated earlier.

The Board also approved the formation of two wholly owned subsidiaries, one in India and one in Uagada to support its growth initiatives. The Indian Subsidiary will mainly focus on the business activities in the areas of IT Enabled services and BPO services.

Further the Company has informed that, an Extra Ordinary General Meeting of the members of the Company is convened to be held on January 10, 2008 for the purpose of getting the approval of the members for the abovesaid business.

Source : Equity Bulls

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