Geodesic Information Updates regarding issue of shares to Chandamama India Ltd

With reference to the earlier announcement regarding the Outcome of the Board Meeting held on March 05, 2007, Geodesic Information Systems Ltd has now announced that the number of shares to be issued under share swap to shareholders of Chandamama India Ltd were erroneously stated as "317,617" instead of "313,843" equity shares. The decision of the Board is stated as under:

"The Board decided to takeover 94% of Chandamama India Ltd by partly paying in cash and rest by issuance of "313,843" 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."

Source : Equity Bulls

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