R Systems International to consider repayment of ECB

R Systems International Ltd has announced that a meeting of the Board of Directors of the Company will be held on May 23, 2007, inter alia, to transact the following business:

1. To consider, discuss and approve the repayment of the outstanding amount of external commercial borrowings of USD 340,000. The said amount was obtained from the Company's wholly owned subsidiary Company R Systems (Singapore) Pte Ltd as external commercial borrowings during July 2003 to October 2003.

2. To consider, discuss and approve an investment on the conversion of warrants held by the Company in VantageMed Corporation or surrender of rights under the said warrants for consideration.

Source : Equity Bulls

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