News December 27, 2006
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 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)