ORG Informatics to allot 6,00,000 warrants at Rs.170

ORG Informatics Ltd has announced that the Board of Directors of the Company at its meeting held on November 22, 2006 have decided, subject to the approval of the Shareholders and other necessary approvals, if any, to offer, issue and allot 6,00,000 Warrants of Rs 170/- each on Preferential basis as per SEBI (DIP) Guidelines to;

M/s Albireo Inc., USA = 500000 Convertible Warrants

M/s PAM Capital Services Pvt Ltd, India = 100000 convertible warrants.

These warrants will be converted into equivalent number of equity shares of Rs 10/- each with a premium of Rs 160/- per share at the option of the Warrant holders.

Further the Company has informed that, an Extra-Ordinary General Meeting of the shareholders of the Company will be held on December 22, 2006 to approve the requisite resolution in respect of the aforesaid allotment.

Note: "The Company has now informed that the Board of Directors of the Company at its meeting held on November 22, 2006 had decided, subject to the approval of the Shareholders and other necessary approvals, if any, to offer, issue and allot 100000 convertible warrants to M/s Tulip Biochem Pvt Ltd, India, instead of M/s PAM Capital Services Pvt Ltd, India, as informed earlier"

Source : Equity Bulls

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