The Economic Times :
K.Sriram Iyer
Chennai 6 July.

CHENNAI - based B2B e-com solution provider Eonour Software is all set for a stock split and even execute a name change as part of the new strategy charted by it. It is now convening an extra - ordinary general meeting (EGM) on July30, 2001 to seek it's shareholders nod for the above resolutions among others.

Eonour, which currently has a share capital of RS.3 crore (30 lakh equity shares of Rs 10 each), plans to spit each of its equity shares of the nominal value of Rs 10 into 5 equity shares of Rs2 each. "This is part of our efforts to increase the liquidity in the stock which has seen very little trading", said Mr R Karthik, CEO, and Eonour Software. The promoters currently hold about 60 -65 per cent stake in the company, which last traded in BSE (September 2000) in the physical format at Rs 689.50 (52 week high Rs 748.20 and 52 week low Rs 529.60).

Also in the EGM agenda are plans to raise authorized share capital form Rs 15 crore to Rs 20 Crore and seek an approval for a name change form Eonour Software to Eonour Technology." We plan to be more of a technology company and we want the name to reflect the change in our character", Mr.Karthik added.

The company's new approach has seen it enter the arena of embedded technology is mulling a foray into bioinformatics (including R&D and developing software for biotech companies). "We will predominantly remain a software company but will enter niche technology areas including hi tech hardware designing." Mr. Karthik added.

Towards this end, it plans to put up a manufacturing unit in semi conductor and related areas which is expected to come up in 1-2 years time.

Eonour which in it's earlier avatar was called as Mikugura before being bought over by the present promoters in January 2000, also plans to pass an enabling resolution to alter article 238 of the articles of association which would enable the board of directors to announce bonus issue without convening an EGM or AGM.



For further details please contact:info@eonour.com