Cranes Software to increase share capital and issue GDRs

Mumbai: Global scientific and engineering software solutions provider, Cranes Software International Ltd (CSIL)has announced that at its Extraordinary General Meeting (EGM), the shareholders have approved the following:

Increasing the Company's authorized share capital from Rs. 110 million (equity capital of Rs. 90 million and preference capital of Rs. 20 million) to Rs. 140 million (equity capital of Rs. 120 million and preference capital of Rs. 20 million).

Issuance of 1.8 million fully paid equity shares in the form of Global Depository Receipts (GDRs) of the Company. Following the proposed GDR issue, CSIL's paid-up equity capital will increase from 8,422,440 shares to 10,222,440 shares of Rs. 10 each. CSIL's Board of Directors had granted their approval on the above resolutions on December 8, 2003.