Gemini Communication - Outcome Of Board Meeting

Gemini Communication Ltd has informed that the Board of Directors of the Company at its meeting held on February 21, 2007 has taken the following decisions:1. The Company shall issue Foreign Currency Convertible Bonds (FCCBs) / Global Depository Receipts (GDRs) / Qualified Institutional Placements (QIPs) or other convertible securities or instruments u/s 81 of the Companies Act, 1956, SEBI Regulations and all other applicable statutory regulations and provisions in this regard for all amount upto USD 35 million or rupee equivalent thereof subject to the approval of members in the General Meeting of the Company. The Board is authorized to take the necessary steps in this regard.2. Authorised Share Capital of the Company be increased from Rs 6,00,00,000 of 1,20,00,000 equity shares of Rs 5/- each to Rs 15,00,00,000 divided into 3,00,00,000 equity shares of Rs 5/- each.3. The Memorandum and Article of Association of the Company be amended to give effect to the alteration of the capital clause.4. To convene an Extraordinary General Meeting (EGM) of the Company to seek the approval of the shareholders for the above said matters. The Board shall be authorised to take the decisions in this regard.