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Our Bureau

Hyderabad, Sept. 26 Cambridge Technology Enterprises Ltd (CTEL) has decided to issue equity shares and convertible warrants to Protégé Software (US), Hansankit Trading (Mumbai), Transartica Company (Mauritius), Ibenstien (Singapore) and to Cambridge Technology Enterprises Trust on a preferential basis.

The company has informed the Bombay Stock Exchange that the Board of Directors, which met on Thursday, considered and approved the decision subject to regulatory approvals.

Accordingly, CTEL would issue 8 lakh equity shares of Rs 10 each at a price of Rs 111 a share (including a premium of Rs 101 a share) to M/s Protege Software Services Inc on preferential basis.

In the case of Hansankit Trading Pvt Ltd, it would issue 12 lakh Convertible Equity Warrants, convertible into 12 lakh equity shares of Rs 10 each at a price of Rs 100 each (including a premium of Rs 90 a share).

Similarly, to Transartica Company and Ibenstien the company would issue 8 lakh and 10 lakh Convertible Equity Warrants, convertible into 8 lakh and 10 lakh equity shares respectively of Rs 10 each at a price of Rs 100 a share (including a premium of Rs 90 a share), on preferential basis.

The BSE notice also said that the company would issue 15 lakh Equity Shares of Rs 10 each to Cambridge Technology Enterprises Trust pursuant to Section 81(1A) of the Companies Act, 1956 at a price of Rs 58.46 a share (including a premium of Rs 48.46 a share) towards grant of ESOPs.

More Stories on : Preferential Allotments | Software

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