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| Exchange Disseminated Time | Logix Microsystems Ltd has informed BSE that the members of the Company, by way of Postal Ballot, have passed the Special Resolution relating authorised to issue and allot on preferential basis 125,000 (One Lakh Twenty Five Thousand) fully paid Equity Shares of nominal value of Rs. 10/- (Rupees Ten Only) at a price of Rs. 320/- (Rupees Three Hundred Twenty Only) per share, which includes a premium of Rs. 310/- (Rupees Three Hundred Ten Only) to Add-on-Auto LLC, USA, towards stock swap to provide for the acquisition of 51% common stock and / or common stock equivalents of AOA Izmo LLC, USA, by Homestar Systems Inc, USA, a Subsidiary of the Company, as per the Membership Interest Purchase Agreement March 26, 2008, which shares shall be subject to lock-in provisions as per requirements, if any, of the Securities and Exchange Board of India.
- Name of the Proposed Allottee: Add-on-Auro LLC, USA
- Number of Shares: 125000
- Value (Rs): 4,00,00,000. |
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