The Hindu Business Line : Ramco Systems to issue shares on preferential basis

RAMCO Systems Ltd will issue up to 2.49 lakh securities in the form of warrant convertible to equity shares by way of preferential allotment to a select investor.

A company official declined to give the investor's name, but said, "the investor was a consulting firm, and their interest is in sync with that of Ramco's."

The Chennai-based software firm will also issue up to 6.11 lakh equity shares by way of preferential allotment to the promoter group (Ramco), at a price to be determined in accordance with the SEBI guidelines, according to a communication from the company to the stock exchanges.

Ramco will issue of 9 lakh stock options under the Employee Stock Option Scheme, 2004 to its senior key managerial personnel, and one-lakh equity shares under the Employee Stock Purchase Scheme, 2004 to senior key managerial personnel.

Ramco has convened an extraordinary general meeting of the members of the company on December 24, to seek their approval, the release said.

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