KLG Systel shareholders OK up to $25 million offering of convertibles

By Angela McDaniels

Seattle, Feb. 12 - KLG Systel Ltd. said it received shareholder approval to issue up to $25 million of foreign-currency convertible bonds, American Depositary Receipts, Global Repositary Receipts or other securities.

The shareholders granted approval during an extraordinary general meeting on Saturday.

KLG is based in Gurgaon, India, and produces specialized software for use in computational engineering and sciences, project management, power system management, automation and supply chain optimization.

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