Omni AXs Board Approves Scheme Of Amalgamation

Omni AXs Software Ltd has informed that the Board of Directors of the Company at its meeting held on February 20, 2007, has approved the Scheme of Amalgamation of Elan Integrated Systems Pvt Ltd, Millennium E Soft Solutions Pvt Ltd & R3 Ventures Pvt Ltd (collectively known as Transferor Companies) with the Company.Further the Company has informed that all the three Transferor Companies are wholly owned subsidiaries of the Company. Therefore no new shares will be issued by the Company on the proposed merger. The existing shares of the Transferor Companies will automatically get canceled upon the merger being approved by the competent authorities. The Company proposes to make necessary application to the Honble High Court of Madras in this regard.