OnMobile Global to issue equity shares to founders, employees of Telisma S A

OnMobile Global Ltd has announced that the Board of Directors of the Company at its meeting held on June 19, 2009, inter alia, has determined the part consideration payable to the founders and certain employees of Telisma S A, as set out in the share purchase agreement signed to acquire 100% of Telisma S A on July 01, 2008. The Board approved the satisfaction of the part consideration of Rs 3,33,11,110/- (equivalent to Euro 5,00,000) by way of issue of equity shares of the Company upto a maximum value of Rs 3,33,11,110/- (equivalent to Euro 5,00,000) subject to the approval of the Shareholders, appropriate authorities and applicable guidelines under law.

The stock closed on Friday at Rs.435.40, up by Rs.24.45 or 5.95%. The stock hit an intraday high of Rs.444 and low of Rs.416.15.

The total traded quantity was 34318 compared to 2 week average of 53747.

Source : Equity Bulls

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