Financial Daily from THE HINDU group of publications
Saturday, Aug 20, 2005
Financial Daily from THE HINDU group of publications Saturday, Aug 20, 2005 |
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Markets
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Preferential Allotments Spanco Tele board to consider pref issue of warrants/equity shares Our Bureau
Mumbai , Aug. 19 THE board of Spanco Telesystems and Solutions will consider preferential issue of warrants/equity shares at their meeting scheduled for next Monday. This is according to what was approved by shareholders at an EGM on August 8, said a notice from the company to the BSE. The company neither specified the size of the issue nor named the entity to which it intended issuing the warrants. However, the market looked at this announcement in the context of reports that the Anil Ambani-led Reliance group was planning on acquiring a little less than 15 per cent stake in Spanco Telesystems. Officials at ADA Enterprises refused comment on the issue.
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