Helios and Matheson board to consider issuing convertible bonds

By Tali Rackner

Norfolk, Va., July 21 – Helios and Matheson Information Technology Ltd. informed the Bombay Stock Exchange that its board of directors will meet on Friday to consider raising long-term funds through the issue of foreign-currency convertible bonds, Global Depository Receipts and equity-related securities to qualified institutional buyers in accordance with existing statutory guidelines and increase of authorized share capital.

The issuance is subject to member approval through a postal ballot exercise.

The trading window for dealing in the company’s shares by the directors and employees will remain closed from July 21 through July 26.

The networking, software, internet and e-business services and solutions company is based in Chennai, India.

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