Hello
Global Asia Partners Fund (GAPVC), a venture capital company, mention Amiga Inc on its homepage.
The managing director of GAP is also the CEO of ORG Informatics LTD, a Telecom and IT company in India. The company is having financial problem in the past 4 years. Is this another victim of the famous Amiga Inc Curse?
========================================================
MUMBAI, April 16, 2004
Asia Pulse - The market regulator - Securities and Exchange Board of India (SEBI) - has exempted Global Asia Partners LP (GAP) from making an open offer while acquiring additional shares and voting rights in IT company ORG Informatics Ltd.
GAP LP holds 14.9 per cent stake in the IT company. ORG Informatics had proposed to issue 30,66000 shares (27.92 per cent stake) of enhanced equity capital to GAP LP, SEBI said in a statement here on Thursday.
GAP had moved an application to exempt it from making open offer under takeover regulations while raising its stake in ORG, it said.
The financial position of ORG was very weak. It had eroded more than 50 per cent of its net worth in the last four years and was unable to repay loan taken from Global Asia Partners, it said.
(PTI - Press Trust India)
April 16, 2004 (Asia Pulse)
