Logix Microsystems EGM approves issue of securities

Logix Microsystems Ltd has announced that the shareholders at the Extra Ordinary General Meeting (EGM) of the Company held on January 05, 2008, inter alia, have approved the Inter-corporate Investments in Add-on-Auto LLC, USA.

The Board gave the approval for issue of 145000 equity shares of Rs 10 each at Rs 320 per share on preferential basis to acquire common stock of Add-on—Auto LLC, USA and approval for issue of 70000 Warrants of Rs 10 each at Rs 320 per warrant on preferential basis to Non-promoters.

The approval for issue of 150000 warrants of Rs 10 each at Rs 320 per warrant on preferential basis to a Group Company of the Promoters.

Source : Equity Bulls

Keywords