Subex Azure to merge Subex Azure (UK) Ltd with itself, to issue GDR/GDS

Subex Azure Ltd has announced that the Board of Directors of the Company at its meeting held on October 28, 2006, inter alia, has decided, the following:

1. Subject to the approval of the High Court of Karnataka and other statutory and regulatory authorities, the merger of Subex Azure (UK) Ltd, the wholly owned subsidiary of the Company with Subex Azure Ltd (Parent Company).

2. Subject to the approval of the members and other statutory and regulatory authorities, proceed with a Sponsored GDR/GDS issue upto a maximum of 9 Million equity shares.

Source : Equity Bulls

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