Omnitech InfoSolutions to issue convertible warrants

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COMPLETES SWAP OF $875MN FOREX CONVERTIBLE BONDS

Updated: 03/11/2009 | 12:00 AM IST

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Capital Market

Tuesday, November 03, 2009 (New Delhi)

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The members of Omnitech InfoSolutions have passed the resolution authorization to the Board of Directors to issue of Convertible warrants at a price not less than the price calculated in accordance with the SEBI.

The members have also passed the resolution for modification in Omni Employees Stock Options Scheme, 2009 empowering the Compensation Committee to grant options at its sole discretion, at a discount not exceeding 50% of Fair Market Value.

This resolution was passed at the extra ordianary general meeting held on 02 November 2009.