Cranes Software International

BSE Announcements on Cranes Software

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Price when posted : [Cranes Software - BSE:Rs. 111.00 NSE:Rs. 110.65 when posted]

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Cranes Software International Ltd has informed BSE about the following:

"We refer to the proposed acquisition of Cubeware by our wholly owned German Subsidiary, Systat Gmbh for a consideration of Euro 18,000,000 (Euro eighteen million) and as more particularly set out in the Notice to Shareholders.

Subject to approval of FIPB, the consideration for acquisition of the Cubeware from the Sellers, is agreed to be discharged partly in cash of an amount not exceeding Euro 12,000,000 by Systat Gmbh and the balance amount by way of issue and allotment of such number of shares of the Company being not more than Euro 6,000,000.

In this regard, we wish to inform you that the total number of shares to be issued to Sellers of Cubeware shall be 30,98,880 at a price fixed at Rs 125/- per share.

The price determined in accordance with Chapter XIII of the SEBI DIP Guidelines, being Rs 123.44 and the RBI Reference Rate (conversion price) of INR/1Euro being Rs 64.56 as on the August 30, 2008 (Relevant date)"....

NSE Announcements on Cranes Software

Posted by : MMB Messenger
Price when posted : [Cranes Software - BSE:Rs. 113.00 NSE:Rs. 115.00 when posted]

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Cranes Software International Limited has informed the Exchange that "We refer to the proposed acquisition of Cubeware by our wholly owned German Subsidiary, Systat Gmbh for a consideration of Euro 18,000,000 (Euro eighteen million) and as more particularly set out in the Notice to Shareholders. Subject to approval of FIPB, the consideration for acquisition of the Cubeware from the Sellers; is agreed to be discharged partly in cash of an amount not exceeding Euro 12,000,000 by Systat Gmbh and the balance amount by way of issue and allotment of such number of shares of the Company being not more than Euro 6,000,000. In this regard, we wish to inform you that the total number of shares to be issued to Sellers of Cubeware shall be 30,98,880 at a price fixed at Rs. 125/- per share. The price determined in accordance with Chapter XIII of the SEBI DIP Guidelines, being Rs. 123.44 and the RBI Reference Rate (conversion price) of INR/1Euro being Rs.64.56 as on the August 30, 2008 (Relevant date)"....