Prism Informatics Ltd: Outcome of Board Meeting

Prism Informatics Ltd has informed BSE that the Board of Directors of the Company at its meeting held on February 07, 2011, has transacted the following:

Pursuant to Clause 22(b) and Clause 36(7) of the Listing Agreement, it is hereby informed that as per approval of shareholders of the Company under Section 81 (1A) of the Companies Act, 1956 at the Extra Ordinary General Meeting held on January 29, 2011 and upon receipt of In-Principle approval received from Bombay Stock Exchange vide Letter dated February 07, 2011 and as per conditions mentioned in SEBI (Issue of capital an Disclosure) Regulations, 2009, the Board of Directors of the Company has allotted 92,164 (nos) of 8% Non Cumulative Compulsorily Convertible Preference Shares (CCPs- Series-II) of Rs. 100/- each at par on preferential allotment basis to Mr. Atif Mohammed Salem Al Suwaidi, Foreign National.