Northgate Technologies increases authorized capital, to issue shares on preferential basis

Northgate Technologies Ltd has announced that the members at the Extraordinary General Meeting (EGM) of the Company held on October 25, 2006, inter alia, have accorded their consent to the following:

1. To raise USD 26.50 Million by way of preferential allotment of 24,47,062 Equity Shares of Rs 10/- each at a price of Rs 497.28/- per share to the following Foreign Institutional Investors:

- M/s. UBS Securities Asia Ltd A/c Swiss Finance Corporation (Mauritius) Ltd - 633,700 shares

- M/s. Macquarie Bank Ltd - 633,700 shares

- M/s. Copthall Mauritius Investments Ltd - 579,450 shares

- M/s. India Capital Fund Ltd - 461,700 shares

- M/s. India Institutional Fund Ltd - 138,512 shares

2. To increase Authorized Share Capital of the Company from Rs 18 Crores to Rs 23 Crores.

Source : Equity Bulls

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