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| Exchange Disseminated Time | Vakrangee Softwares Ltd has informed BSE that the Preferential Allotment Committee of the Board of Directors of the company constituted with an objective for the retirement of the debt of the company and for meeting the capital requirement for the asset creation for new projects, at its meeting held on October 16, 2013 considered and approved, subject to members’ approval ,and other regulatory approvals if any, issuance and allotment of the following on preferential basis:
1. Upto 5% Fully Convertible Warrants, each convertible into equivalent number of equity shares to the Promoters of the company, convertible at the sole option of the allottee in one or more tranches at any time after the date of allotment but before expiry of 18 months from the date of allotment, and
2. Upto 15% of equity shares of the company to other strategic investors as may be determined by the committee;
All the other information in relation to the above mentioned preferential. allotment including but not limited to the object of the said preferential allotment and exercise price determined as per the prescribed pricing norms under the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2009 and any amendments made thereto from time to time, for preferential allotment shall be disclosed by the company when decided. |
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