Cranes Software's Board approves capital expansion and GDR issue
Bangalore, December 8, 2003 : Cranes Software International Ltd. (CSIL), a global scientific and engineering software solutions provider, has announced that it has received the following approvals from its Board of Directors at their meeting held earlier today:
- Increasing its authorized share capital from Rs. 110 million to Rs. 140 million, including equity capital of Rs. 120 million and preference capital of Rs. 20 million (currently Rs. 90 million and Rs. 20 million respectively)
- Issuance of 1.8 million fully paid equity shares in the form of Global Depository Receipts (GDRs) of the Company, with the objective of contributing to the funding requirements related to its planned business expansions that include:
- Exploiting emerging growth opportunities through focused acquisitions, joint ventures and strategic alliances in India and internationally;
- Acquisition of intellectual property rights (IPRs) and entering global marketing alliances for leading technical software products;
- Augmenting working capital requirements of the rapidly expanding global business operations
- Organizing an extra-ordinary general meeting (EGM) on January 5, 2004 to gain shareholder approvals of the planned capital expansion and GDR issue, as mentioned above
About Cranes Software International Ltd. (CSIL)
CSIL, a global scientific & engineering products and solutions provider, offers its customers products, consulting and training in the scientific and engineering field. The company is dedicated to excellence, which brings recognized leadership in technical software products and support capabilities. CSIL expertise in these fields comes with an early bird experience of over a decade.
CSIL with a definite and distinct focus on product development, consulting, distribution and training, has its network spread over nine direct offices and thirteen dealers all over India. With a mission statement to provide its customers the best in scientific technology and to enable its customers to define new limits, CSIL is setting new standards in the scientific software and engineering field.
About Systat Software Inc.
Systat Software Inc. develops, markets and supports specialized scientific software for data analysis and presentation. The product range includes SYSTAT for statistical analysis, TableCurve 2D for curve fitting, TableCurve 3D for surface fitting, PeakFit for peak analysis and AutoSignal for signal processing and analysis.
These products are extensively used for research and teaching to solve complex business, science and engineering problems. Some of the core segments that our products address are Life Sciences, Medical Research, Environmental Sciences, Geo Sciences, Physics, Chemistry, Telecommunication and Automotive Industry.
SSI is head quartered in California USA with offices in the United Kingdom and India enhanced by a network of global channel partners and marketing associates. Our development centre comprises of original product developers, global R&D team, domain experts, leading statisticians, graphic designers, algorithm specialists, and experienced software programmers."
For further information on the company, its products and services visit www.systat.com
For further information, please contact :
Contact : Akila Lean (Cranes Software International Limited)
Phone : +91 80 520 1604 / 5 / 6
Fax : +91 80 520 1626
E-mail :
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Contact : Shiv Muttoo (Citigate Dewe Rogerson)
Phone : +91 22 2284 2728
Fax : +91 22 2284 4561
E-mail :
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