Ontrack Systems Ltd has informed that the Board of Directors of the Company at its meeting held on January 24, 2008, inter alia, has transacted the following:
1. The Board considered various sources of fund raising and approving issue of Global Depository Receipts up to a value of US Dollar 15 million for business expansion.
2. To Board fixed that Extra-ordinary General Meeting of the members of the Company be held on February 26, 2008 to consider and approve the GDR issue of upto a value of USD 15 million.
3. To Board considered and approved the draft notice to be circulated to members for convening Extra-ordinary General Meeting for consideration of GDR issue.
1. The Board considered various sources of fund raising and approving issue of Global Depository Receipts up to a value of US Dollar 15 million for business expansion.
2. To Board fixed that Extra-ordinary General Meeting of the members of the Company be held on February 26, 2008 to consider and approve the GDR issue of upto a value of USD 15 million.
3. To Board considered and approved the draft notice to be circulated to members for convening Extra-ordinary General Meeting for consideration of GDR issue.
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