KLG Systel EGM approves raising US$ 25 million

KLG Systel Ltd has announced that the Shareholders of the Company in its Extra Ordinary General Meeting (EGM) held on February 10, 2007 had passed the following Special Resolution as per the Notice of the EGM:

1. Authorization to Company u/s 81(1A) of the Companies Act, 1956 to raise an amount not exceeding US Dollars 25 Millions from Overseas / Domestic Market by issue of ADR / GDR / FCCB or other financial instruments, subject to the compliance of provisions of various Laws rules, regulations as may be applicable and subject to the consents / approvals from appropriate authorities in India / Overseas.

Source : Equity Bulls

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