Spanco Telesystems - Outcome Of Board Meeting

Spanco Telesystems & Solutions Ltd has informed that the Board of Directors of the Company at its meeting held on March 14, 2007, in pursuance to the authority given by the members in the Extra Ordinary General Meeting held on January 23, 2007, has issued and allotted 650,000 equity shares of Rs 10/-each and 1,350,000 warrants (carrying an option / entitlement to subscriber to equivalent number of equity shares) for cash, both at a price of Rs 210/- per share (including Share Premium of Rs 200 per share) to Mr. Kapil Puri, Promoter of the Company on preferential basis, in terms of the SEBI (DIP) Guidelines, 2000 as amended from time to time.