Avance Technologies - Outcome Of Board Meeting

Avance Technologies Ltd has informed that the Board of Directors of the Company at its meeting held on January 16, 2007, has approved to issue upto 30,00,000 Warrants convertible into Equity Shares within 18 months to Promoters / Associates / Group of Investors on a Preferential basis at a price of Rs 10/- per equity share or a price determined as per preferential guidelines under SEBI (Disclosure and Investor Protection) Guidelines, 2000, subject to the approval of the shareholders and shall confer as per the provisions of the Section 81(1A) of the Companies Act 1956.The Extra Ordinary General Meeting would be held for getting members approval.