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The Times of India, Bangalore
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Wednesday, 31 August 2005
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The Board of Cranes Software International Ltd, a global scientific and engineering solutions company, has approved the issue of equity shares on preferential basis. Cranes will issue up to 8 lakh equity shares of Rs 10 each to the promoters/ promoter Group. It will also issue up to 4 lakh equity shares of Rs 10 each to Spice One Colonizers Pvt. Ltd. Following such issuance, the promoters' holding will increase from 34.6% to 38%. The issue will be priced at not less than Rs 900 per share. the proposed issue of preference shares is subject to the decision of the shareholders at the forthcoming AGM of the company to be held on September 27.
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