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Friday, Sep 13, 2002

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Corporate - Preferential Allotments


Fortune Info preferential issue

Our Bureau

HYDERABAD: Fortune Informatics Ltd, a software solutions provider based here, has identified seven allottees under the proposed preferential offer.

The Fortune Compliance Officer, Mr H.M. Nayak, told Business Line that the preferential issue allottees included the company Chairman and Managing Director, Mr C.K. Shastri, Mr B. Sunil Kumar, and S.L. Rama International, Rex Rotary, UK and the company's Fortune Foundation Trust.

The company has informed the Bombay Stock Exchange that the board, slated to meet on September 16, will consider allotment of 8,00,000 shares to Rex Rotary and 2,00,000 shares to the Fortune Foundation Trust as per the SEBI guidelines. This meeting is expected to approve the issue of about 38 lakh warrants of one each to the promoters, which are to be converted into shares. Further, the Fortune Foundation Trust that is to be allotted shares will decide on the issue of ESOPs .

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