Shyam Software allots equity shares

Shyam Software Industries Ltd has announced that the Board of Directors of the Company at its meeting held on November 01, 2008, inter alia, has allotted new equity shares to the shareholders of the Company holding shares on the Record Date i.e. October 22, 2008 in the ratio of 14 new equity shares of Re 1/- each for every 5 equity shares of Rs 10/- each, to effect reduction in capital of the Company as per the approved Composite Scheme of Arrangement in the nature of Amalgamation of Majesty Agro Foods Pvt Ltd. with the Company and Reconstruction of capital of the Company.

The Board also allotted Equity shares of the Company to the shareholders of the Majesty Agro Foods Pvt. Ltd. holding shares on the Record Date i.e. October 22, 2008 in the ratio of 10 Equity Shares of Re 1/- each for every 1 equity share of Rs 10/- each, as per the approved Composite Scheme of Arrangement in the nature of Amalgamation of Majesty Agro Foods Pvt. Ltd. with the Company and Reconstruction of capital of the Company.

Source : Equity Bulls

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