Spanco Telesystems to consider allotment to Monet Ltd, UTI Investment

Spanco Telesystems & Solutions Ltd has announced that a meeting of the Board of Directors of the Company will be held on March 23, 2007, inter alia, to consider and approve the issue and allotment of 3,081,326 equity shares of Rs 10/- each and 1,500,000 warrants (carrying an option / entitlement to subscribe to equivalent number of equity shares of Rs 10/- each) to Monet Ltd and 1,094,123 equity shares of Rs 10/- each to UTI Investment Advisory Services Ltd A/c. Ascent India Fund, for cash, all at a price of Rs 214.91 per equity share (including Share Premium of Rs 204.91 per equity share), on a preferential basis.

Source : Equity Bulls

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