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Outcome of Su-raj Diamonds Board Meeting
07
Jan '08
Su-raj Diamonds & Jewellery Ltd has informed that the Board of Directors of the Company at its meeting held on January 05, 2008, has proposed to issue upto 36,20,000 Equity Shares to the Promoters / Promoters' Group on Preferential Issue basis.

The issue of Equity Shares is subject to the approval of members and will be in terms of Guidelines for Preferential Issue contained in Chapter XIII of the Securities and Exchange Board of India (Disclosure and Investor Protection) Guidelines, 2000 and other applicable Rules / Regulations / Guidelines of Securities and Exchange Board of India and other regulatory authorities.

The Equity Shares will be issued at a price being the highest of the following:

(a) The average of weekly high and low of the closing prices of the Company's shares quoted on the Stock Exchange (National Stock Exchange of India Ltd) during the six months preceding the "relevant date"; or

(b) The average of the weekly high and low of the closing prices of the Company's shares quoted on the Stock Exchanges (National Stock Exchange of India Ltd) during the two weeks preceding the "relevant date"; or

(c) Rs 85 per equity share of Rs 10 each.

The relevant date for determination of the applicable price of the equity shares is January 03, 2008 i.e. the date being 30 days prior to the date on which the meeting of the general body of the shareholders is held.

An Extra ordinary General Meeting of the shareholders of the Company will be convened on February 02, 2008 for obtaining the consent of shareholders.

Su-raj Diamonds & Jewellery Ltd


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