Indian Infotech to discuss raising capital, making corporate changes

By Tali Rackner

Norfolk, Va., July 7 – Indian Infotech & Software Ltd. informed the Bombay Stock Exchange that its board of directors will meet on July 21, inter alia, to discuss the following matters:

• To consider and approve raising of fresh capital up to $20 million by way of issuance of American Depositary Receipts/Global Depositary Receipts/foreign currency convertible bonds/QIP or any other mode, to use the funds for the expansion of business subject to the necessary approvals from regulating authorities as well as shareholders of the company;

• To consider and approve the issue of bonus shares by way of capitalization of free reserves of the company;

• To discuss and approve standalone and consolidated unaudited financial results for the quarter ended June 30;

• To recommend a dividend, if any, for the year 2013-2014;

• To consider the appointment of new directors on board;

• To re-consider shifting the company’s registered office as earlier announced in connection with the board meeting outcome dated Feb. 14;

• To consider the proposal of closing the corporate office operation from Delhi; and

• As per the company’s code of conduct for prohibition of insider trading, the trading window for dealing in the securities of the company will be closed for all directors/officers/designated employees of the company from July 7 to July 23 (both days inclusive).

Indian Infotech provides software development financial assistance and information technology consultancy services. It is based in Mumbai.

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