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Our Bureau

Chennai , Jan. 26

EONOUR Technologies Ltd has informed the stock exchange that the board of directors at its meeting held last week has approved a proposal to issue warrants convertible into equity shares to various entities. The promoter, Mr R. Karthik, would get warrants to the extent of 1.72 lakh shares and Justice Holding Pvt Ltd would get warrants to the extent of 1.34 crore shares. The total of these two would not exceed 14.50 per cent of the expanded capital. Also, King Sales Corporation would get warrants to the extent of 1.3 crore shares at the rate of Rs 6 per share. The extraordinary general meeting for the company is to be held on February 20.

The notice also said that the company's board had approved a proposal to sell, lease or dispose of the south east Asian business and other operations of the company in India and abroad. The company's CEO was not immediately available for clarification.

The board also approved a proposal to promote a joint venture company or wholly owned subsidiary companies in India or in Hong Kong or in Singapore or in all three, to lease or purchase the south east Asian business and other business of the company. The statement added that for both these items, shareholders' approval will be obtained through postal ballot and the date for dispatch of postal ballots for this purpose has been fixed for January 30.

According to the notice, "The board has also approved the investment of 50,000 shares of Rs 10 each in Eonour Businessway Ltd to become wholly owned subsidiary of the company. The above action was taken for the item proposed to be pursued through the postal ballot process."

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