Date:20/02/2008 URL: http://www.thehindubusinessline.com/2008/02/20/stories/2008022051480400.htm

Back Zen Tech nod to pref share sale

Hyderabad, Feb. 19

Zen Technologies Ltd has approved issue of preferential shares to among others Mr. Rakesh Jhunjunwala and Mrs Rekha Jhunjhunwala and promoter group at a price of Rs. 135 per share (Rs 10 share) including premium of Rs125. The EGM held today approved the issue of a total of 9 lakh shares. These include 4.5 lakh equity shares and 4.5 lakh warrants to the Jhunjunwalas. Post allotment, they would hold a 10.1 per cent equity in the company, the highest after the main promoters. The EGM also okayed the preferential share allotment of 3.5 lakh shares to the promoters— Mr. Kishore Dutt Atluri, President of the company (a relative of the promoter), and Mr. M Ravi Kumar, whole-time director (Promoter of the Company), at the same price of Rs 135 per equity share. The promoters would hold a 50.1 per cent stake post this move. The company has also passed an enabling resolution to hike the authorised capital of the company from Rs 10 crore to Rs 20 crore, it informed the stock exchanges. —

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