IQMS Software - Outcome Of Board Meeting

IQMS Software Ltd has informed that the Board of Directors of the Company at its meeting held on July 06, 2007, inter alia, has transacted, considered and accorded the following:1. The Board has taken decision to induct Dr. Vivek Hebbar, Mr. L V Ramnarayan as the Additional Directors on the Board.2. The Board has consented for issuing equity up to Rs 5 crores on preferential basis to Strategic Investors / Investors for business growth. The pricing of preferential issue will be as per the SEBI laid norms for preferential issue of equity. The Board has further decided to call for the meeting of Shareholders (EGM) on August 06, 2007.3. The Board has agreed to consider various restructuring options for strengthening the Revenue Model of the Company and confirmed the appointment of M/s. Firstcall India Equity Advisors Pvt Ltd as the Strategic Financial Advisors of the Company for the Companys restructuring and for the Companys issuance of equity on preferential basis.