Satra Properties - Outcome Of Board Meeting

Satra Properties India Ltd has informed that the Board of Directors of the Company at its meeting held on February 22, 2007, inter alia, has decided the following:1. To make a further issue of Equity Capital to identified persons through preferential allotment of upto 2,50,000 equity shares of Rs 10/- each at an issue price of Rs 800/- per share which is in compliance with SEBI Guidelines for Preferential Issue, subject to approval of Members and such other approvals as may be required.2. To raise funds upto Rs 500 Crores through Qualified Institutional Buyers (QIB / Preferential Allotment to Mutual Funds, Banks, Financial Institutions, Foreign Institutional Investors, and other investors / Follow on Public Issue / Issue of Convertible Debentures, etc subject to approval of Members and such other approvals as may be required.3. To increase the present authorized capital of the Company from Rs 20 Crores to Rs 40 Crores divided into 3.20 Crore Equity Shares of Rs 10/- each and 80 Lacs Preference Shares of Rs 10/- each.4. For the aforesaid purposes, the Board has decided to call an Extra-ordinary General Meeting of the Members on March 20, 2007.