Geodesic Information - Outcome Of Board Meeting

Geodesic Information Systems Ltd has informed that the Board of Directors of the Company at its meeting held on March 05, 2007, has consented that in continuation of the resolution passed on January 22, 2007, the Company would proceed with a cash and stock deal for acquisition of upto 100% shareholding of Chandamama India Ltd. As a part of the deal on Mary 05, 2007 the Board consented to the following:1. Takeover 94% of Chandamama India Ltd by partly paying in cash and rest by issuance of 317,617 equity shares of Rs 2 each @ Rs 265 per share (price fixed in accordance with SEBI Guidelines) to shareholders of Chandamama India Ltd on share swap basis as consideration for acquisition, subject to the approval of any regulatory authority and of the shareholders in the Extra Ordinary General Meeting.2. Convene an Extraordinary General Meeting on March 31, 2007 to consider the above issue of equity shares. 3. The relevant date for the above issue is fixed as March 01, 2007.