Katare Spinning - Outcome Of EGM

Katare Spinning Mills Ltd has informed that the members at the Extra ordinary General Meeting (EGM) of the Company held on February 22, 2007, inter alia, have accorded to the following:1. Increase in the present Authorised Share Capital of the Company of Rs 4,00,00,000 divided into 40,00,000 Equity Shares of Rs 10/- each to Rs 6,00,00,000 divided into 60,00,000 Equity Shares of Rs 10/- each, by creation of additional 20,00,000 equity shares of Rs 10/- each and consequential amendments in the Memorandum & Articles of Association of the Company.2. Authority to the Board to offer / issue by private placement Convertible Equity Share Warrants on preferential basis or any instruments convertible into or exchangeable against equity shares with or without detachable warrants entitling the warrant holder to equity shares (Securities) in aggregate not exceeding the nominal value of equity shares of Rs 215 lacs at such price as may be fixed by the Board in accordance with the rules and Guidelines prevailing in this regard in aggregate not exceeding Rs 115 lacs to the Promoters of the Company, their associates / associate companies on preferential basis, subject to necessary provisions & approvals.