Associated Stone - Outcome Of Board Meeting

Associated Stone Industries Kotah Ltd has informed that the Board of Directors of the Company at its meeting held on February 21, 2007, taken on record the Rajasthan High Court Orders dated December 19, 2006 and February 09, 2007, regarding the Scheme of Arrangement (Demerger of Textile Unit viz. Prerna Jatia (A Unit of the Company) u/s 391 to 394 of the Companies Act, 1956.Further the Company has informed that, the Board has fixed the record date for issue & allot equity shares by the Resulting Company viz. Vast Textiles Ltd to the members of the Company / Demerged Company whose names are recorded in the Register of Members of the Company on that date as per the equity shares entitlement Ratio pursuant to the Scheme of Arrangement as follow:1 Equity Share in the Resulting Company of Rs 10 each credited as fully paid up for every 1 Equity Share/s of Rs 10 each fully paid held by such shareholder in the Demerged Company and 1 Equity Shares of Rs 10 each credited as fully paid in the Resulting Company for 4 Equity Shares of Rs 10 each, Rs 2.50 per share paid up, held by such Shareholder in the Demerged Company.