INFOSYS PLANS 1:1 BONUS, CONVENES EGM ON JAN 20
Article Abstract:
Infosys Technologies, a leading software development firm, has called for an extraordinary general meeting on January 20, 1999 to decide over a bonus issue proposed by the board of directors of the company. The company is planning to offer bonus shares in the ratio 1:1. Subsequent to the bonus issue, the paid-up share capital of the firm is expected to increase to Rs32.03 crore from the current Rs16.02 crore. It has planned for a public offering of American Depository Receipts (ADRs) in the US representing ordinary shares of Infosys. The size of the issue is $75 million. It has obtained the government of India's approval for its ADR-based option plan for workers. Infosys has posted a total income of Rs218.36 crore in the first half of 1998-99. (gs)
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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SONATA FORMS JOINT VENTURE WITH SCALA
Article Abstract:
Sonata Software Ltd (SSL) has tied up with Scala Business Solutions NV of Amsterdam. The tie up will help SSL to develop software for the global markets without incurring any marketing costs. SSL will be getting royalties for the software developed by it. The two companies have formed a new company called Abisko Development Ltd (ADL). ADL is located in Cyprus as Cyprus is friendly in terms of taxation on royalties. The joint venture company will have an equity base of $500,000. SSL will be working as the software development unit of ADL. It has already secured a project worth $3 million for the next two years. SSL will be developing software components that will cater mainly to the Scale 5 Global series e-solution products. (ag)(psr)
Comment:
Sonata Software Ltd (SSL) has tied up with Scala Business Solutions NV of Amsterdam.
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1999
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