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March 8, 2000
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| Ram Informatics to acquire US firm, preferential issue at Rs 250/- per share |
| At its meeting held today (08/03/2000) the Board of Ram Informatics Ltd (RIL) has approved the terms and conditions of MoU signed by the company with M/s Aravali Technologies Inc. , USA (ATI)with regard to acquiring the issued and outstanding shares of ATI. The shares of ATI totaling 40000 numbers shall be acquired for a total consideration of USD 7,250,000 (approx Rs 316 million). Out of the total consideration payable, USD 1,516,055 is to be paid in cash and the balance by way of exchange of equity shares of RIL in the ratio of 25 equity shares of RIL for every one share of ANI. To fund partially, the cost of acquisition, RIL shall allot equity shares by way of preferential issue, at a premium of Rs 240/- per share - subject to necessary approvals. The authorised capital of the company is proposed to be increased from 75,000,000 to Rs 100,000,000. |
| Sangam India to enter into Software Business |
| At the EGM of Sangam India Ltd held today (08/03/2000), the company has passed a resolution to change the objects clause of the company to enter into software business. A resolution to allot convertible preference shares worth 350 million on private placement has also been passed.
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| Thomas Cook Launched in Mauritius |
| Thomas Cook (India) Ltd has today (08/03/2000) launched its first operating unit in Mauritius at the SSR International Airport. This 24-hour, 365-day foreign exchange counter will be located in the arrival section of the airport. This bureau will cater principally to the conversion of foreign exchange needs of foreign visitors to the country. |
| Rolta India Ltd Audited Annual results on March 24 |
| The Board meeting of Rolta India Ltd will be conducted on March 24, 2000 to consider and approve the Audited Financial results of the company for the year ending December 31, 1999. |
| Consolidated Coffee to consider Interim Dividend |
| The Board meeting of Consolidated Coffee is scheduled on March 20, 2000 to consider payment of interim dividend for the year ending March 31, 2000. |
| Kalpataru Power transmission to pay 25% Interim Dividend |
| The Board of Kalpataru Power transmission Ltd has decided to pay an interim dividend of Rs 2.5/- per equity share of Rs 10/- each fully paid up. The said interim dividend for the current year shall be paid out of current year's profits for the year ending March 31, 2000. The record date for the purpose of interim dividend is April 19, 2000. |
| Mastek Board expanded, amendments in ESOP proposed |
| At today's meeting (08/03/2000) the Board of Directors of Mastek Ltd has been expanded. Mr Gurucharan Das and P.G. Kakodkar have joined the Board of Directors as Non-Executive Directors. The Board has proposed certain amendments to the Employee's stock option scheme and has called an EGM of the company to get the approval of the shareholders for the same. |
| Zicom Electronics to make preferential allotment at Rs 85/- per share |
| The Board meeting of Zicom Electronics Ltd is scheduled on March 11, 2000 to consider the allotment of equity shares on preferential basis to promoters and institutions at Rs 85/- per share. The Board proposes to allot totally 1,100,000 equity shares, of which 250,000 shares shall be allotted to Mr Manohar G. Bidaye and Mr. Pramod V. Rao each (Promoters/Directors). The balance 500,000 shares shall be allotted to Prudential ICICI Trust Ltd (Technology Fund). The above issue is in pursuance of the approval of the shareholders of the company at the EGM held on February 1, 2000. |
| Vakrangee Softwares plans Subsidiary in USA |
| Mumbai based Vakrangee Softwares Ltd is planning to op-en a subsidiary Company in the USA for its marketing in USA. Vakrangee shall have 75% equity participation in the subsidiary. The Board of Vakrangee is likely to approve the proposal in the forthcoming meeting in the next week. |
| SQL Star AGM on March 30, 2000 |
| The Thirteenth Annual General Meeting of SQL Star International Ltd is convened on March 30, 2000. At the AGM declaration of Dividend of 10% will be considered for approval. |
| Aptech to consider International issue, raise FII investment limit
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| The Board of Directors of Aptech Ltd will meet on March 11, 2000 to consider an issue including quantum of ADR/ADS/GDRs/ Private placement of equity shares. The issue shall be subject to the regulations of SEBI, and RBI as in force for the time being. The Board shall also consider increasing the investment limit by FIIs from 30% to 40% in the equity share capital of the company. |
| German Remedies to consider interim dividend
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| The Board of Directors of German Remedies Ltd will meet on April 7, 2000 to consider payment of interim dividend for the year 1999-2000. The Board has fixed April 18, 2000 as record date for the payment of Interim Dividend. |
| Sudarshan Chemicals to consider interim dividend |
| The Board meeting Sudarshan Chemical Industries Ltd is scheduled on March 1 7, 2000 to consider declaration of interim dividend. The record date for determining the persons entitled to the interim dividend shall also be decided by the Board at the same meeting. |
| Surana Telecom to redeem Preference shares |
| The Board of Directors of Surana Telecom Ltd has decided to redeem 12% redeemable preference shares of Rs 100/- aggregating to Rs 15 million together with the interest accrued thereon. These shares are not listed on the stock exchanges and are held by persons belonging to the member group. |
| Krypton Industries to enter into Software Business |
| The Board of Directors of Krypton Industries Ltd will meet on March 22, 2000 to discus amongst others, the following matters: (a) To alter the Memorandum of Association of the company to incorporate therein the object of commencing business related to Information Technology, Computer and Software. (b) To alter Articles of Association to include therein the provisions of dematerialisation of securities. (c) Further issue of share capital (c) To discuss about Packing Credit Loan. |
| Toubro Industries renamed as Toubro Infotech and Industries Ltd |
| Registrar of companies, Jalandur has approved the change of name of Toubro Industries Ltd to Toubro Infotech and Industries Ltd on March 7, 2000. The company has obtained the fresh certificate of incorporation from the ROC. |
| Peerless Shipping announces reconstitution of the Board |
| The Board of Peerless Shipping & Oilfield Services Ltd (PSOSL) at a meeting held on March 8, 2000 adopted a resolution reconstituting the Board of the company. The newly constituted Board will include Cmdre PCB Nair as the Non Executive Chairman. Cmdre Nair is currently CSO Area manager in India. Mr Michael Chadwin has been appointed as the Chief Operating Officer of the company. The move follows the increase in October 1999 of Coflexip Stena Offshore's stake in PSOSL to 58.24%. Coflexip Stena Offshore group is a world leader in the sub-sea oilfield service industry with operations in all five continents, providing integrated solutions to the global sub-sea industry. The Board has also passed a resolution to appoint M/s Arthur Anderson as Statutory Auditors of the company- subject to ratification at the upcoming EGM of the company. |
| TVS Suzuki to consider Interim Dividend
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| The Board of Directors of TVS Suzuki Ltd will meet on March 10, 2000 to consider the declaration of interim dividend for the year ending March 31, 2000. |
| Autolec Industries to consider Interim Dividend
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| The Board of Directors of Autolec Industries Ltd is scheduled to meet on March 22, 2000 to consider the declaration of interim dividend for the year ending March 31, 2000. |
| Shree Krishna Petro Yarns to consider Rights cum Public issue
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| The Board of Directors of Shree Krishna Petro Yarns Ltd will meet on March 15, 2000 to consider issue of fresh equity shares through a Rights-cum-Public issue. The funds raised shall be used to finance the company's expansion project. |
| Sandvik Asia recommends Rs 20/- per share
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| The Board of Directors of Sandvik Asia has recommended a dividend of Rs 20/- per equity share of Rs 100/- each. The dividend shall be paid to the shareholders whose names appear on the register of members of the company on April 20, 2000. The Board has convened an AGM of the company on April 20, 2000. |
| Pentium Infotech Board meeting to consider special business |
| The Board of Directors of Pentium Infotech Ltd is scheduled to meet on March 9, 2000 to decide the day, date, time and place for convening the EGM of the company, for carrying out special business as may be decided by the Board. |
| Premier Auto to pay dividend with interest |
| Premier Automobiles Ltd has informed the BSE that the company has made arrangements with Bank for payment of dividend for the financial year ending September 1998 to its shareholders with interest @ 14% per anum. The company has already deposited an amount of Rs 102 lacs towards payment of dividend and interest. |
RISC
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