13th Jun 2007 10:27
Subex Azure Limited13 June 2007 Press release June 11, 2007 Subex Azure promoters to increase their stake in the company Bangalore, INDIA: Subex Azure Limited (SAL), a leading global provider of OSSsolutions for telecom operators, has announced a preferential issue of warrantsto its promoters/promoter group. The issue has been approved by the company'sshareholders at their meeting held on 4th June 2007. As a result of the issue, the promoters, comprising Subex Holdings PrivateLimited (SHPL) and Subash Menon, will have their stake increased from 8.73%(3,040,960 shares) to 13.07% (4,840,960 shares). Sudeesh Yezhuvath, belonging tothe promoter group, will have his stake increased from 0.37% (127,660 shares) to1.51% (557,660 shares). SHPL, where Subash Menon (Founder Chairman, Managing Director and CEO of SubexAzure Limited) holds 100% stake, is being allotted 1,800,000 warrants of SAL.Chief operating officer Sudeesh Yezhuvath is being allotted 430,000 warrants.Each warrant is convertible into one equity share of Subex Azure Limited, andhas been priced at Rs. 630.31 as per the pricing norms under the SEBIguidelines. -END- About Subex Azure Ltd. Subex Azure is a leading global provider of OSS solutions with a mission toempower telecom operators to achieve competitive advantage and deliver newservice experiences to subscribers. The company pioneered the strategic concept of the Revenue Operations Center(ROC) - a centralized and integrated infrastructure for end-to-end monitoring,measurement and control of the operator's revenue chain - to foster operationaldexterity and hence sustained profitability. Subex Azure's software portfolio powers the ROC and its best-in-class solutionsenable new service creation, subscriber-centric fulfillment, provisioningautomation, revenue assurance & cost management, data integrity management,fraud management and interconnect/interparty settlement. Subex Azure's customers include 32 of the world's 50 largest telecom operatorsby revenue. The company has more than 150 installations in over 60 countries. Subex Azurewas named in the prestigious Deloitte Technology Fast 500 Asia Pacific 2006 listof companies, underlining the company's growth and leadership status. For more information please visit www.subexazure.com Forward Looking and Cautionary Statements Certain statements in this release concerning Subex Azure's products, strategyand future growth prospects are forward -looking statements, which involve anumber of risks, and uncertainties that could cause actual results to differmaterially from those in such forward -looking statements. The risks anduncertainties relating to these statements include, but are not limited to,market acceptance of Subex Azure's products and services, Subex Azure's abilityto implement its growth strategy, competition in Subex Azure's areas of businessand general economic conditions affecting the telecom industry. Further information: In Europe or Asia please contact Alex Crawshaw or Kate Bonner at Catalysis tel: +44 (0)20 7101 7333 / 7326 [email protected] / [email protected] In the U.S. please contact Guy Murrel at Catapult PR-IR tel +1 303-581-7760 [email protected] In India please contact Shivaram Lakshminarayan at Genesis Burson-Marsteller PR tel: +91 9886136796 [email protected] This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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