Info Drive EGM approves 4:1 rights issue

Info Drive Software Ltd has announced that the members at the Extra-Ordinary General Meeting (EGM) of the Company held on January 23, 2007, inter alia, have unanimously passed the following:

1. Increase of authorized capital from 1,20,00,000 equity shares of Rs 10/- each aggregating to Rs 12,00,00,000 to 3,00,00,000 equity shares of Rs 10 each aggregating to Rs 30,00,00,000/-.

2. Issue of rights shares aggregating to 2,00,00,000 equity shares in the proportion of 4 equity shares every 1 equity share held as of record date to be fixed in consultation with Stock Exchanges, and other authorities if any at par or at such premium as may be determined by the Board of Directors.

Source : Equity Bulls

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