Educomp Solutions - Allotment of shares on conversion of FCCBs

Educomp Solutions Ltd has informed that in accordance with the Offering Circular dated October 13, 2006 of USD 25 million Foreign Currency Convertible Bonds (FCCBs) issue Company has received conversion notice in respect of 650 bonds aggregating to USD 6.5 million from the bond holders. Accordingly, the Board of Directors of the Company at its meeting held on June 08, 2007 has allotted 3,29,179 Equity Shares of the Company to the respective Bond holders who have exercised their conversion option.Further after allotment of 3,29,179 shares, Paid up Share Capital of the Company has increased from Rs 16,03,57,450 consisting of 1,60,35,745 equity shares of Rs 10/- each to Rs 16,36,49,240 consisting of 1,63,64,924 equity shares of Rs 10/- each.