Twinstar Software EGM approves issue of shares

Twinstar Software Exports Ltd has announced that the members at the Extra Ordinary General Meeting (EGM) of the Company held on March 16, 2007, inter alia, have transacted the following business:

1. Increase in the Authorised Share Capital of the Company from Rs 16,50,00,000/- to Rs 17,50,00,000/- by creation of additional 10,00,000 equity shares of Rs 10 each.

2. Further issue of 14,99,700 equity shares to investors. In view of the same the Company has informed that, one of the proposed promoter allotee (Ms. Kala Mehta) has expressed her unwillingness to subscribe to 8,00,000 equity shares of the Company as earlier consented by her. One of other group Companies under the same management has agreed and given their consent to subscribe to the same 8,00,000 equity shares of the Company. The shareholders of the Company have approved the same.

Source : Equity Bulls

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