Prism Informatics to consider preferential issue of CCDs on Nov 08, 2010

Prism Informatics Ltd has announced that a meeting of the Board of Directors of the Company will be held on November 08, 2010, to consider the proposal for preferential issue of 3,74,406 (nos) 12% Compulsorily Convertible Debentures (CCD's), Series II of Rs. 100/- each at par to the proposed investors, subject to approval of Members of the Company.

At the aforesaid Board Meeting, the Board of Directors shall also decide the date, time and venue of the Extra Ordinary General Meeting of the Company for seeking the approval of Members under Section 81(1A) of the Companies Act, 1956 for the aforesaid preferential issue of CCD's Series II.

The Company is proposing to consider the proposal to raise the funds to the tune of Rs. 10 Crores by issue of Compulsorily Convertible Debentures (CCD's) Series III of Rs. 100/- each at par. The other terms of allotment and list of allottees shall be finalized at the subsequent Board Meeting.

The stock was trading at Rs.475, up by Rs.4.50 or 0.96%. The stock hit an intraday high of Rs.475 and low of Rs.475.

The total traded quantity was 550 compared to 2 week average of 3116.

Source : Equity Bulls

Keywords