Subex members support acquisition, cost write-off

IRIS

The shareholders of Subex Systems Ltd. has voted in favor of both the

resolutions put forth in the extra-ordinary general meeting (EGM) held on June

27, 2002. This included write off of the cost expended in acquisition of two

software products from Magardi Inc., Canada and related expenses and the issue

of rights shares worth Rs 20 crore.






The company has proposed to raise Rs 20 crore by offering equity shares to
existing shareholders on rights basis. This amount will be utilized for setting

up of overseas offices and to enhance sales and marketing efforts to promote its

products globally. aggressively.

Source: myiris.com