Ganesh Polytex - Outcome Of Board Meeting

Ganesh Polytex Ltd has informed that the Board of Directors of the Company at its meeting held on February 21, 2007, has decided to make the issue of the following securities.1. 4,90,000 warrants with the option of conversion of each warrant into one equity share to the Promoters and their Associates at a price to be determined in accordance with SEBI Guidelines2. 4,00,000 10% Cumulative Redeemable Preference Shares of Rs 100 each to the Promoters and their Associates aggregating to Rs 400 lacs.Further the company has informed that, the Board has also decided to convene an Extraordinary General Meeting on March 24, 2007, inter alia to consider and approve the above proposals.