Majesco Changes Record Date and Expiration Date for its Rights Offering to Shareholders
Deepthi | Myequity news | Date : 16-01-2019 11:50:00 IST Majesco
, a global provider of cloud insurance software solutions for insurance business transformation, today announced that due to the continued federal government shutdown, it has changed its record date for its previously announced rights offering from January 29, 2019 to February 5, 2019 and its expiration date from February 19, 2019 to February 25, 2019.
Under the proposed rights offering, Majesco will distribute to its shareholders, at no charge, one non-transferable subscription right for each share of common stock held or deemed to be held on the record date. Each right will entitle the holder to purchase one-sixth of a share of Majesco's common stock at a subscription price of $7.10 per whole share.
Insurance business transformation is a journey of change and revitalization, a renaissance of Insurance. Approximately 160 insurance companies worldwide in P&C, L&A and Group/ Employee Benefits are transforming their businesses with Majesco's solutions.