Core Projects & Technologies Ltd. is pleased to announce that Shareholders of the Company at their meeting held on 27 February 2008 approved the issue of 4,50,000 warrants to “TGS Investment & Trade Pvt. Ltd.” the Private Equity Arm of the A V Birla Group on preferential basis as per the SEBI Guidelines at an issue price of Rs.305/- to be exercised / exchangeable with 4,50,000 Equity Shares of Rs.2/- each at a premium of Rs.303/- per share. This will constitute approximately 0.5% of the total capital.

“This is the initial strategic investment by the A. V. Birla Group provides confidence of Core’s business model and its dominant presence in the Education Domain globally” shares Mr. Sanjeev Mansotra, Chairman & Managing Director, Core Projects. Mr. Bharat Banka the CEO of the private equity business of the A V Birla group, has already joined the Board of Core Projects last month.

Core Projects has been managing schools in many foreign countries including the US, Africa and the UK. It is setting up 100 high-end virtual technology centres for IGNOU.

It has also done a pilot project for the Jharkhand government where in it has given complete solutions for schools, including up-gradation of infrastructure facilities to training of the teaching stuff. It has won the Union HRD Ministry’s award for its Jharkhand project. It hopes to replicate the success it achieved in Jharkhand in many other states.

Sourced From: Concept Public Relations India Pvt. Ltd

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