Crazy Infotech approves preferential issue

Crazy Infotech Ltd has announced that the Board of Directors of the Company at its meeting held on January 27, 2010, has considered and received consents from proposed allottees to subscribe in the proposal of allotment of Equity shares on Preferential issue.

The board decided to allot, after availing necessary consent from shareholders at their meeting and from stock exchange, to resident Indian individuals Mr. V. Prakash - 40,00,000 equity shares, Mr. R. Mukundan - 40,00,000 equity shares and Ms. M. Kasthuri - 40,00,000 equity shares to the total size of 1.2 crore equity shares of face value of Re. 1/- at the price of Rs. 1.75/-

Due to in-sufficient information available to discuss and decide, it was decided to defer the proposal of acquiring the business or the Company which is doing business in animation and IT products & services.

The Notice calling Extra Ordinary General Meeting to be convened on February 22, 2010 was considered and adopted.

The stock was trading at Rs.1.36, down by Rs.0.07 or 4.90%. The stock hit an intraday high of Rs.1.45 and low of Rs.1.36.

The total traded quantity was 69262 compared to 2 week average of 116025.

Source : Equity Bulls

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