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CHENNAI: California Software Ltd would issue 1.60 lakh shares of face value of Rs 10 to shareholders of WebSpectrum Software Private Ltd, a Bangalore-based company.

This is as per an agreement signed between the two companies in December 2004 — California is acquiring 100 per cent equity in WebSpectrum.

The issue would be made subject to approval at the proposed extraordinary general meeting. This issue is as per the terms of that agreement and the proposed share purchase agreement, according to an official of California Software.

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