Plethico Pharmaceuticals - Outcome Of Board Meeting

Plethico Pharmaceuticals Ltd has informed that the Board of Directors of the Company at its meeting held on February 26, 2007, inter alia, has considered and approved the following decisions: 1. Subject to the approval of the members in the forthcoming Annual General Meeting, Foreign Currency Convertible Bond (FCCB) not exceeding USD 75 Millions be issued to finance Companys project related to acquisition of Retail Pharmacy Chain and / or Manufacturing Unit and / or OTC Brand and / or Marketing Firms etc. in US Market; and2. Subject to the approval of the members in the forthcoming Annual General Meeting, the unutilized portion of IPO proceeds to the extent of Rs 35.00 Crores be utilized by the Company for the purpose of acquiring Retail Pharmacy Chain and / or Manufacturing Unit and / or OTC Brand and / or Marketing Firms etc.