Godrej Consumer - Outcome Of EGM

Godrej Consumer Products Ltd has informed that the members at the Extra ordinary General Meeting (EGM) of the Company held on March 14, 2007, inter alia, have accorded to the following:1. Authority to the Board to grant a loan, at such rate of interest in their discretion not being less than the prevailing Bank Rate, compoundable on an annual basis, to a trust, to be created for the benefit of the employees, for purchasing 20,00,000 equity shares of the Company of the nominal value of Re 1/- each from the secondary market for allotting 20,00,000 options convertible into 20,00,000 equity shares of the nominal value of Re 1/- each to eligible persons who are in employment of the Company including directors of the Company at the time of grant of these options, whether in whole-time employment or not and whether working in India or out of India or in any other manner employed in the Company and as may be decided by the Compensation Committee of the Company on such terms and conditions, as they may deem fit and in such manner under a plan titled Godrej Consumer Products Ltd Employee Stock Option Plan or such other name (ESOP or the Plan) of the Company at such price, in one or more tranches and on such terms and conditions as may be fixed or determined by the Board in accordance with the applicable provisions of law or the guidelines, if any, as may be prevailing at that time, subject to necessary provisions & approvals.