Computer Point is a pioneer institute for imparting Computer Education with PAN INDIA presence.Co was started in 1984 by Modi Group and later taken over by Prof BL Jain an authority on IT Education Recently company has issued preferential allotment of shares to promoters at PAR at Rs.10 per share whereas the CMP is only Rs. 4. Promoters will be having 60 % of Co’s expanded equity capital after allotment of shares
Scrip Code:507833 Company Name:COMPUTER POINTJanuary, 10 2007
January, 10 2007News Subject: Computer Point – Outcome of AGM
Computer Point Ltd has informed BSE that the members at the Annual General Meeting (AGM) of the Company held on December 27, 2006 have authorised the Board to create, issue and allot, by way of preferential allotment, not exceeding in the aggregate, 30,00,000 Equity Shares of Rs 10/- each for Cash at par and an aggregate of not exceeding 30,00,000 Convertible warrants carrying a right of options to be exercisable within 18 months from the date of allotment thereof for conversion of each warrant into one Equity Shares of Rs 10/- each for cash at par, ranking pari—passu in all respects including dividend entitlement, with the existing equity shares of the company as on the date of the respective allotments, the issue price of the said new equity shares being determined with reference to the relevant date being November 27, 2006, as per the SEBI (Disclosure & Investors Protection) guideline 2000 for Preferential Issue, to the investors mentioned below up to the number of shares and convertible warrants mentioned against each name, subject to necessary provisions and approvals.
Investor / Entity:
1. Jai Software & Systems Pvt Ltd – 10,00,000 Equity shares / 10,00,000 Warrants
2. Jai Technology Pvt Ltd – 10,00,000 Equity shares / 10,00,000 Warrants
3. S S Homes Pvt Ltd – 10,00,000 Equity shares / 10,00,000 Warrants
The aggregate No. of equity shares / warrants to he subscribed to by the persons as above shall not exceed 60,00,000 Equity shares of Rs 10/— each all after exercising the option for conversion of warrants and allotment of shares thereon.
This shows the confidence of the promoters to revive the business of the Co.. With demand for IT engineers on the RISE the pioneer Institution in IT education COMPUTER POINT could come back like NIIT and more recently STG which has also allotted preferential shares at Rs. 13.5 per shares to promoters and some investors /people acting in concert. The share of STG has appreciated by 25 % since the announcement of preferential allotment some 2 weeks back. Next in line is COMPUTER POINT
Grab it before it spurts.