3rd-Dec-2010 11:13Source: BSE

Zigma Software - Outcome of Board Meeting

Zigma Software Ltd has informed BSE that the Board of Directors of the Company at its meeting held on December 02, 2010, inter alia, has considered and approved the following business:

The Company has allotted 1,62,45,000 Fully Convertible warrants to be converted into Equivalent number of Equity Shares. The Company received 25% i.e. Rs. 2.50/- per share at the time of allotment of warrants.

The Company has now received balance 75% i.e. Rs. 7.50/- per share and application from under noted allottees who has exercised their options to convert 9,00,000 each Fully Convertible warrants upon conversion into equivalent number of Equity Shares of Rs. 10/- each.

Details of allottes (Non-Promoter Category)

1. Name of allottees: Indus Vanijya Pvt. Ltd.
- No. of Fully Convertible Warrants converted in Equity Shares: 9,00,000

2. Name of allottees: Misty Commercial Pvt. Ltd.
- No. of Fully Convertible Warrants converted in Equity Shares: 9,00,000

3. Name of allottees: Tulip Tradecom Pvt. Ltd.
- No. of Fully Convertible Warrants converted in Equity Shares: 9,00,000

4. Name of allottees: Ajit Vanijya Pvt. Ltd.
- No. of Fully Convertible Warrants converted in Equity Shares: 9,00,000

The Board has considered and approved allotment of 36,00,000 Equity shares of Rs. 10/- each to the above list of allottees upon conversion of Equivalent number of Fully Convertible warrants.