Financial Daily from THE HINDU group of publications
Thursday, Jul 01, 2004
Financial Daily from THE HINDU group of publications Thursday, Jul 01, 2004 |
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Info-Tech
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Rights Issue Mascon Global board okays rights issue Our Bureau
Chennai , June 30 MASCON Global said that the board has approved the issue of 2.48 crore shares on rights basis at a price band of Rs 11 and Rs 14 per share. It has also approved the issue of the same number of detachable warrants to be converted within 15 months at Rs 15 per warrant (where one warrant will be converted into one equity share). A communiqué from the company said that board has also approved "the estimated requirement of funds and utilisation thereof". No details on the estimates were immediately available. The board also considered and recommended two more issues for approval: one, issue of shares to ISC Holdings Inc on a preferential basis, to the extent of $ 5.423 million, towards the part payment of acquisition cost; and two, the issue of further shares by way of GDR / ADR to the extent of $ 150 million.
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