Silverline Technologies to issue warrants at Rs.25.51

Silverline Technologies Ltd has announced that the Board of Directors of the Company at its meeting held on January 24, 2007, inter alia, has considered the following:

1. Decided to issue on Preferential Placement, Convertible Warrants @ Conversion Price of Rs 25.5l/- per share, to the Promoters and Persons Acting in Concert to the extent of 26% on fully diluted equity, Subject to the approval of shareholders of the Company. The Board has decided to call for an EGM of Shareholders of the Company on March 05, 2007.

2. The Board ratified the Demerger decision and instructed the Management to initiate the procedural formalities in terms of required statutory approvals.

Source : Equity Bulls

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