Educomp Solutions Ltd has informed BSE that the Board of Directors of the Company at its meeting held on January 29, 2010, have decided to acquire the domain name and other business contracts of M/s. Zaptive Internet Services Pvt. Ltd. and allotment of Equity Shares on preferential basis, in part consideration thereof. Total purchase consideration is Rs. 6.02 Cr out of which Rs. 4.17 Cr will be paid through preferential allotment of shares of Company and balance Rs. 1.85 Cr will be paid in cash. Further the Company has informed that, it has been decided to have the proposed allotment of equity shares approved by the shareholders of the Company by way of Postal Ballot. Draft Postal Ballot Notice was also approved by the Board, to be dispatched to the Shareholders of the Company in due course of time.
Source: BSECourtesy moneycontrol.com
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