Cambridge Solutions plans to issue up to $40 million in convertibles

By Devika Patel

Knoxville, Tenn., Nov. 26 - Cambridge Solutions Ltd. informed the Bombay Stock Exchange that it will hold an extra ordinary general meeting on Dec. 17 to issue up to $40 million in convertibles, which includes a $10 million greenshoe. The company approved plans for the bonds at a board of directors meeting on Nov. 15.

Securities being considered are Global Depositary Receipts, American Depositary Receipts and convertibles.

Bangalore, India-based Cambridge Solutions is a business process outsourcing and information technology outsourcing company.

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