Spanco Ltd: Outcome of Board Meeting

Spanco Ltd has informed BSE that the Board of Directors of the Company at its meeting held on April 15, 2011, inter alia, pursuant to the Special Resolution passed under Section 81(1A) of the Companies Act, 1956 by the shareholders of the Company in the Extra Ordinary General Meeting (EOGM) held on March 25, 2011, issued and allotted:

1. 32,85,000 equity shares at Rs. 10/- each at price of Rs. 155/- (Including premium of Rs. 145/- each) on preferential basis In terms of Chapter VII of the SEBI (issue of Capital and Disclosure Requirements) Regulations, 2009 ("ICDR Regulations") to the promoter and other entities;

2. 15,00,000 warrants convertible into equivalent number of Equity shares of Rs.10/- each, at price of Rs. 155/- (Including premium of Rs. 145/- each) on preferential basis in terms of Chapter VII of the SF81 (Issue of Capital and Disclosure Requirements) Regulations. 2009 ("ICDR Regulations") to the promoter.