IEC Softwares Ltd has informed that the Board of Directors of the Company at its meeting held on March 10, 2008, inter alia, has decided that after the receipt of the in-principal approval from Stock Exchange and approval of the members of the Company at the Extra Ordinary General Meeting held on January 30, 2008, 70,00,000 (Seventy Lacs) Convertible Warrants at a price of Rs 30/- each, which are convertible into equity number of Equity shares of Rs 10/- each at a premium of Rs 20/- within a period of 18 months, on preferential basis to following persons belonging to the Promoter as well as non Promoter group, allotted:
(A) Promoter Group
1. Names of the allottee: R L Gupta
No. of warrants allotted: 17,38,000
2. Names of the allottee: Sharda Gupta
No. of warrants allotted: 17,38,000
(B) Non Promoter Group
3. Names of the allottee: Rajender Bhushan
No. of warrants allotted: 10,29,000
4. Names of the allottee: Vikram Badhwar
No. of warrants allotted: 6,65,000
5. Names of the allottee: Ashok Sharma
No. of warrants allotted: 6,65,000
6. Names of the allottee: Sakshi Sharma
No. of warrants allotted: 1,65,000
7. Names of the allottee: Balkishan Saraf
No. of warrants allotted: 10,00,000
(A) Promoter Group
1. Names of the allottee: R L Gupta
No. of warrants allotted: 17,38,000
2. Names of the allottee: Sharda Gupta
No. of warrants allotted: 17,38,000
(B) Non Promoter Group
3. Names of the allottee: Rajender Bhushan
No. of warrants allotted: 10,29,000
4. Names of the allottee: Vikram Badhwar
No. of warrants allotted: 6,65,000
5. Names of the allottee: Ashok Sharma
No. of warrants allotted: 6,65,000
6. Names of the allottee: Sakshi Sharma
No. of warrants allotted: 1,65,000
7. Names of the allottee: Balkishan Saraf
No. of warrants allotted: 10,00,000
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