R Systems International signs Share Purchase/Subscription Agreements with Aisel Co, Japan

R Systems International Ltd has announced that the Company has, on December 22, 2006, signed the following agreements with Aisel Co., Ltd an independent systems development and business solutions provider, in Tokyo, Japan:

1. Share purchase agreement for purchase of 13.51% equity of Aisel Co., Ltd.

2. Share subscription agreement for issuance of 410,000 equity shares of Rs 10/- each at a price of Rs 250/- per share aggregating to Rs 10.25 crores, which is approximately 3.03% of Company's equity.

These agreements are subject to the corporate and other regulatory approvals.

Source : Equity Bulls

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