Northgate Technologies allots 24,47,062 shares to FIIs

Northgate Technologies Ltd has announced that pursuant to the approval of members of the Company in the Extraordinary General Meeting held on October 25, 2006 the Board of Directors of the Company at its meeting held on November 04, 2006, has allotted 24,47,062 Equity shares of face value of Rs 10/- each at a price of Rs 497.28/- per share to the following Foreign Institutional Investors (FIIs).

Name of the Allottee:

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

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

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

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

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

In view of the above, the paid-up Capital of the Company is increased to 1,62,86,145 equity shares of Rs 10/- each fully-paid.

The said equity shares allotted to FIIs will be under lock in up to November 03, 2007 i.e. for a period of one year from the date of allotment.

Source : Equity Bulls

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