R Systems Announce the outcome of its Board Meetings
Noida, December 27, 2006: The Board of directors of R Systems International Limited at its meeting held on 27th December 2006 has inter alia unanimously approved the following:
- Investment in equity shares of Aisel Corporation pursuant to the strategic alliance agreement entered into between Aisel Corporation & R Systems International Limited subject to corporate and other regulatory approvals.
- Allotment of 410,000 equity shares of Rs. 10/- each at the price of Rs. 250/- per share subject to the approval of the shareholders to Aisel Corporation pursuant to the strategic alliance agreement entered into between Aisel Corporation & R Systems International Limited.
- Allotment of 24,390 equity shares of Rs. 10/- each pursuant to the exercise of the stock options granted to the employees of the Company & its subsidiaries under R Systems International Ltd Year 2004 Employee Stock Option Plan.
- Allotment of 22,800 equity shares of Rs. 10/- each pursuant to the exercise of the stock options granted to the employees of the subsidiary company ECnet Limited under R Systems International Ltd Year 2004 Employee Stock Option Plan-ECnet.
- Investment of up to US$ 1,000,000 in CISCO solutions to meet the existing & future requirements of R Systems business.
- Opening of a branch office in Belgium.
For
further information please contact:
Nand Sardana (Tel No. 0120 - 430
3506)
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