ORG Informatics - Outcome Of Board Meeting

ORG Informatics Ltd has informed that the Board of Directors of the Company at its meeting held on March 22, 2007 has passed the following:1. In accordance with the Special Resolution passed by the shareholders of the Company in their Extraordinary General Meeting held on February 13, 2007, under provisions of Section 81 and other applicable provisions, if any, of the Companies, Act, 1956 (including any reenactment and / or amendment thereof, for the time being in force), the previsions of Memorandum and Articles of Association of the Company, guidelines issued by Securities and Exchange Board of India (SEBI) applicable to issue of equity shares on preferential basis, Listing Agreement entered into with Stock Exchanges, Foreign Exchange, Management Act 1999, and their regulations, and any other applicable laws for the time being in force and subject to such consents, approvals, permissions or sanctions, required if any, and subject to necessary approvals of requisite authorities as might be required, the Company do hereby issue and allot, on preferential basis, 8,93,370 equity shares of Rs 10 each, with a premium of Rs 171/- per share, to the shareholders of Unified Technologies Pvt. Ltd., (Unified), initiated by Mr Ajoy K. Khandheria, Managing Director CEO of the Company for the purpose of identification, towards the settlement of part consideration of acquisition of 100% shareholdings of Unified by the company as per the Companys arrangement with Unified in this regard upto the value of Rs 16.17 Crores.2. Decided to raise upto USD 30 Million through the process of GDR / ADR / FCCB / Preferential Allotment subject to requisite approvals by the shareholders of the Company in its ensuing extra ordinary general meeting, to achieve the purpose of the Companys organic and inorganic growth.