Fortune Informatics to issue shares to investors

Fortune Informatics Ltd has announced that the Board of Directors of the Company at its meeting held on October 07, 2006, inter alia, has approved the following:

1. Issue of Equity Shares not exceeding 250,000 Equity shares of Rs 10/- each and 500,000 Equity Share Warrants carrying an option to subscribe to an equivalent number of Equity Shares of Rs 10/- each to specified investors at the issue price in accordance with SEBI Guidelines.

The proposed issue is in terms of the regulations/rules/guidelines issued by the Securities & Exchange Board of India (SEBI) and other applicable provisions of law and shall be subject to the necessary approvals of the shareholders of the Company and also of SEBI and other regulatory authorities, if required.

Allotment of 100,000 Equity shares of Rs 10/- each on exercise of option by Mr P Venkataratnam, warrant holder in respect of warrants allotted on May 17, 2005.

Source : Equity Bulls

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