Cranes Software's shareholders approve preferential issue of equity shares to promoters and strategic investors

• Issuance of 1:1 bonus shares, stock split and dividend of Rs. 5 also approved
• Eminent technology researcher Dr. Peter Ryser inducted to Board of Directors

• Issue of equity shares of Rs. 10 each on a preferential basis, at a price not less than Rs. 900 per shares, to the following parties:
  • up to 800,000 equity shares to the Promoters / Promoter Group
  • up to 400,000 equity shares to strategic investors, Spice One Colonizers Pvt. Ltd..
    
    
  Following such issuance, the promoters' holding will increase from 34.6% to 38.0%. Funds from this issuance will be used to exploit further growth opportunities from business and IPR acquisitions, joint ventures, strategic alliances, global marketing alliances and to augment the working capital requirements of the rapidly expanding global business operations.
  
  
• Issue of bonus shares in the ratio of one share for every share held; equity shares of Rs. 10 each to be split into five shares of Rs. 2 each; and dividend of Rs. 5 per share , including regular dividend of Rs. 2 per share and special dividend of Rs. 3 per share.
  
  
• Increase in the authorized share capital of the Company from Rs. 220 million to Rs. 350 million to facilitate the above expansions.
  
  
• Appointment of Dr. Peter Ryser on Cranes' Board of Directors. Dr. Ryser is a Professor of Microtechnology at the Swiss Federal Institute of Technology in Lausanne. He has over three decades of research and teaching experience across corporate and academic institutions, including that as a Director at Siemens Bulding Technologies where he was responsible for product innovation initiatives for the entire Siemens Group for a period of five years.

About Cranes Software International Ltd. (CSIL)

Cranes Software is a global scientific & engineering products and solutions provider. The Company's business interests straddle products, services, R&D in future technologies, training and high-end consultancy for engineers and scientist worldwide. Focused on the scientific and engineering community, Cranes Software has addressed the needs of a variety of customer groups ranging from large MNCs to the US armed force for over a decade.

Today, Cranes Software has its presence in 38 countries across the world and has a customer base of more than 350,000. Cranes Software also offers world-renowned solutions from reputed principals such as The Mathworks, Mentor Graphics, Texas Instruments, IBM and Lanner through product alliances.

With a mission statement to provide its customers the best in scientific technology and to enable its customers to define new limits, Cranes Software is setting new standards in the scientific and engineering field.

For more information visit www.cranessoftware.com