Helios & Matheson - Meeting on Jul 16, 2007

Helios & Matheson Information Technology Ltd has informed that pursuant to the terms and conditions of the Offering Circular dated July 07, 2006, a meeting of the Committee of Directors (Allotment) (CoD) of the Company will be held on July 16, 2007 to consider allotment of 380,748 Equity Shares of Rs 10/- each of the Company at the conversion price of Rs 130 per share upon exercise of option of conversion by the FCCB holder for 10 nos of 2% Coupon Foreign Currency Convertible Bonds of US $ 100000 each (FCCB).