| ICSA India calls for EGM to approve issue of securities
1. To issue, offer and allot on behalf of the Company, in one or more lots (including with provision for reservation on firms and / or competitive basis) of public or private offerings in domestic and / or international markets, through prospectus and / or offer letter or other permissible / requisite offer document, Foreign Currency Convertible Bonds (FCCBs), and /or American Depository Receipts (ADRs) / Global Depository receipts (GDRs) / other Depository receipts and / or Equity Shares/ Preference Shares / Fully Convertible Debentures / Partially Convertible / Non-Convertible Debentures / Optionally Fully Convertible Debentures / Bonds, or any other instruments (including shares without voting rights attached to them or global depository receipts), with or without detachable warrants, whether secured by way of creating charge on the assets of the company or unsecured, as may be decided by the Board of Directors, either in Rupees or in any such appropriate foreign currency as may be permitted by law for an aggregate value as may be decided by the Board of Directors of the Company with or without attachable or detachable warrants, securities in registered or bearer forms, to the Promoters / Directors, their Friends and Relatives and Associates / Group Companies, Members, Employees under Stock option Scheme and / or otherwise, Non-Resident Indians, Indian Public, Overseas Corporate Bodies, International Institutions, Foreign Institutional Investors / Foreign Companies, whether incorporated or not, Companies, Mutual Funds, Financial Institutions or other entities as may be allowed under applicable rules and regulations and to such persons (whether shareholders of the Company or not) by public issue, rights issue / private placements, preferential issues, bought out deals, reservations, firm commitments, employees stock option scheme or by any one or more of the above methods or by any other terms and conditions including the face value, premium amount, premium on conversion or at discount, provided that amount on conversion of convertible debentures shall be as per applicable SEBl guidelines which will be duly certified by the Auditors of the Company, number of conversions, number of tranches, exchange price for warrants / options, rate of interest, redemption period, manner of redemption, amount of premium on redemption / conversion, nature of security, manner of calls and other connected matters with authority to retain such over-subscription of the amount as may be permitted by law for an aggregate amount not exceeding USD 24.00 Million (with permissible green shoe option) or equivalent in Indian and or in any other currency(ies) (inclusive of such premium, as may be fixed on such equity shares) or upon such limit as may be permitted by the Ministry of Finance or Reserve Bank of India or such other Authorities which ever is higher, directly to Indian or Foreign investors whether institutions, incorporated bodies, mutual funds and or individuals or otherwise and whether or not such investors are members, promoters, directors or their associates of the company through public issues, rights issues, private placements, preferential allotment for cash or stock swap or acquisition of business / companies or a combination thereof at such time or times and in such tranches at such price or prices, at discount or premium to market price or prices in such manner and on such terms and conditions including security, rate of interest etc as may be decided and deemed appropriate by the board at the time of such issue or allotment considering the prevailing market conditions and other relevant factors wherever necessary in consultations with the lead managers and underwriters or through the subsidiaries so as to also enable the company to get listed at the Indian Stock Exchanges and Overseas Stock Exchanges / or such as Singapore, Luxemburg, London, Nasdaq and or New York Stock Exchange and or any other overseas stock exchange, subject to necessary provisions and approvals.
Chemtura Announces Reorganization, Job Cuts
Connecticut-based Chemtura Corporation, which employs 155 people at its West Lafayette facility, has announced it will reorganize according to an industry-based model to improve performance and accelerate growth. The company says the reorganization will result in the loss of 620 jobs and affected employees will be notified by the end of the second quarter.
Source: Inside INdiana Business
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Global Payments to Present at Upcoming Investor Conferences
Global Payments Inc., represented by Chairman, President and Chief Executive Officer, Paul R. Garcia, will present at the SunTrust Robinson Humphrey "36th Annual Institutional Conference" on April 10, 2007. Mr. Garcia is expected to present at 3:15 p.m. EDT. The conference will be held in Atlanta, GA and can be accessed via Web cast at http://www.globalpaymentsinc.com
Additionally, Executive Vice President and Chief Financial Officer, Joe Hyde, will join other executives making presentations at the Robert W. Baird & Co. "2007 Growth Stock Conference" on May 8, 2007. Mr. Hyde is expected to present at 9:30 a.m. EDT. The conference will be held in Chicago and can be accessed via Web cast at http://www.globalpaymentsinc.com
Global Payments Inc. is a leading provider of electronic transaction processing services for consumers, merchants, Independent Sales Organizations (ISOs), financial institutions, government agencies and multi- national corporations located throughout the United States, Canada, Latin America, Europe and the Asia-Pacific region.
PeopleSupport Reports Record Revenues for Fourth Quarter and ...
LOS ANGELES--(BUSINESS WIRE)--PeopleSupport, Inc. (Nasdaq: PSPT), a leading offshore business process outsourcing (BPO) provider, today announced financial results for its fourth quarter and fiscal year ended December 31, 2006. Revenue in the fourth quarter of 2006 was a record $31.0 million, an increase of 82% from the $17.0 million reported in the fourth quarter of 2005. Net income for the fourth quarter of 2006 was $4.0 million, or $0.19 per basic share and $0.18 per diluted share, based on 21.1 million basic and 21.8 million diluted weighted average shares outstanding, as compared to net income for the fourth quarter of 2005 of $12.3 million, or $0.67 per basic share and $0.65 per diluted share, based on 18.3 million basic and 18.9 million diluted weighted average shares outstanding.
China Has $1 Trillion to Fight a US Trade War: Mark Gilbert
April 2 (Bloomberg) -- The U.S. has been standing on the ledge for a while now, scanning the sidewalk of recession many levels below. Its decision to slap tariffs on Chinese imports nudges the world's biggest economy closer to the precipice. While the idea of a trade war seems like a musty 19th- century relic, reeking of exotic spices and wrapped in fabulous colored cloth, the numbers underlying the current dispute are of a magnitude only possible in the go-go, globalizing 21st century. The U.S. has a $233 billion deficit with China, which in turn has lent about $400 billion to the U.S. government by investing a chunk of its $1 trillion of currency reserves in Treasury securities. That gives China a hefty stick with which to beat back U.S. protectionism. The dollar is swooning at the prospect of China offloading some of its stockpile of Treasuries as swift retaliation against the accusation of being a non-market economy and unfairly subsidizing its exporters.
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