Strides Arcolab - Outcome Of EGM

Strides Arcolab Ltd has informed that the members at the Extra-Ordinary General Meeting (EGM) of the Company held on January 25, 2007, inter alia, have accorded the following:1. Authority to the Board for the investment of the Companys funds in Rupee equivalent of a sum not exceeding USD 900,000 to acquire by way of subscription, purchase or otherwise, securities of Akorn Strides LLC, USA, notwithstanding that the aggregate of loans, guarantees or security so far given or to be given to and / or securities so far acquired or to be acquired in all Bodies Corporate may exceed the limits prescribed under the said Section, subject to necessary provisions & approvals.2. Authority to the Board to borrow from time to time, any sum or sums of money notwithstanding that the monies to be borrowed together with the monies already borrowed by the Company (apart from the temporary loans obtained from the Companys Bankers in the ordinary course of business) may exceed the aggregate of the paid up capital of the Company and its free reserves, that is to say, reserves not set apart for any specific purpose, provided that the total amount including the monies already borrowed shall not, at any time exceed the limit of Rs 1,500 Crores, subject to necessary provisions & approvals.3. Alteration in the Articles of Association of the Company by substituting new article 109 in place of the present Article 109 thereof:109. The number of Directors shall not be less than 3 and not more than 12.