The Hindu Business Line :
Raja Simhan T.E
Chennai, July 31 2001.

THE Chennai - based Eonour software Ltd has shortlisted one company in the US and one in India for acquisition.

While the acquisition of the US firm would be completed in 4-5 months, that of Indian firm would be delayed slightly, the company's CEO, Mr.Karthik, told Business Line.

Meanwhile, the company has decided to rename itself Eonour technologies Ltd. In line with it's plans to be technology - driven in relevant and allied fields.

According to Mr. Karthik, the acquisition of the US product company with a turnover of around $ 5 million would be done through a combination of cash and equity.

"Now is the right time for acquisitions" he added.

To fund the acquisitions, the company's shareholders on Monday approved an enabling resolution for the company to raise funds or issue securities in tranches aggregating to and not exceeding Rs 16.99 crore (excluding the sums raised by way of premium).

The issue price of the security to be issued in the proposed offerings will be determined by the company's board of directors at the time of offer, depending upon the then prevailing market conditions.

The securities will be listed on such international or Indian stock exchanges as the board may decide, the resolution said.

The shareholders also approved a resolution to split each of the 30.07 lakh issued, subscribed and paid up shares of Rs 10 each into five shares of Rs.2 each.



For further details please contact:info@eonour.com