The Board of Directors of Zylog Systems Ltd at its meeting held on September 02, 2010, inter alia, has considered various options for raising long term resources to fund the company's growth plans and has approved the Notice of the AGM to include an enabling resolution to raise funds up to Rs2.5bn, by further issue of securities / instruments in domestic / international markets including equity shares/warrants with Convertible or Non-Convertible Debentures under Qualified Institutions Placement (QIP) or Foreign Currency Convertible Bonds (FCCBs) or American Depository Receipts (ADRs) or Global Depository Receipts (GDRs) subject to shareholders' and other necessary approvals.
The Board has approved the Notice of the AGM including a resolution to alter the Articles of Association of the Company relating to authorized share capital and capitalization of profits / reserves of the Company.