Mindteck India Ltd has informed that the Board of Directors of the Company at its meeting held on September 03, 2007, has approved the injection of equity capital equivalent to a sum not exceeding US $ 5.00 million in the Companys wholly owned subsidiary, Mindteck BPO Services Pvt. Ltd. (Mindteck BPO), to enable Mindteck BPO to acquire the entire share capital of each of:
Mindteck UK Ltd
Mindteck Singapore Pte. Ltd
Chendle Holdings Ltd and
ICI Tech Holdings Inc.
The Board, at the above meeting, also approved the convening of the Annual General Meeting (AGM) of the Company to obtain approval of the shareholders for the issue of new equity shares for an aggregate consideration not exceeding US $ 10 million to certain financial investors on a private placement basis.
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