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Outcome of Mudra Lifestyle EGM
18
Jan '08
Mudra Lifestyle Ltd has informed that the members at the Extra Ordinary General Meeting (EGM) of the Company held on January 18, 2008, inter alia, have accorded the following:
1. Authority to the Board to create, offer, issue and allot up to 30,00,000 Equity Warrants, entitling the warrant holder(s) from time to time to apply for equity share of the Company in one or more tranch(es), within an aggregate time period of 18 months from the date of allotment of the warrants, to promoters / strategic investors, whether or not they are members of the Company, on preferential placement basis, through offer letter and / or circular and / or information memorandum and / or private placement memorandum and / or such other documents / writings, in such manner and on such terms and conditions as may be determined by the Board in its absolute direction, provided that the aggregate number of resultant equity shares of the Company to be issued against such warrants shall not exceed 30,00,000 (Thirty Lakhs) fully paid equity shares of the face value of Rs 10 each at a price not less than the higher of the following:

a. The average of the weekly high and low of the closing prices of the Company's shares quoted on the stock exchange (Bombay Stock Exchange 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 a stock exchange (Bombay Stock Exchange Ltd) during the two weeks preceding the 'relevant date'. The 'relevant date' for this purpose being December 19, 2007, subject to necessary provisions and approval.

2. Authority to the Board to issue, offer and allot, in the course of international offerings, in one or more foreign markets, equity shares / preference shares / convertible debentures / Convertible Notes / Foreign Currency Convertible Bonds (FCCBs) / Secured Premium Notes (SPN) and / or any securities convertible into equity shares at the option of the Company and / or holder of the securities and / or securities linked to equity shares through American Depository Receipts (ADRs) and / or Global Depository Receipts (GDRs) and / or any other instruments or securities ("Securities") subscribed to in foreign currency(ies) for cash or stock swap or for other valuable consideration including strategic alliances, business


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