Grabal Alok Impex - Outcome Of Board Meeting

Grabal Alok Impex Ltd has informed that the Board of Directors of the Company at its meeting held on March 01, 2007, inter alia, has accorded their consent to issue, subject to the approval of the members of the Company through Postal Ballot (i) upto 7,11,000 equity shares of face value of Rs 10/- each of the Company at the premium of Rs 135.00 per share to the promoters / promoters group of the Company on a preferential basis by March 31, 2007 (ii) upto 23,08,000 warrants to the promoters / promoters group of the Company, each warrant entitling the holders thereof to apply for and be allotted one equity share of the Company of Rs 10/- each on payment of the exercise price of Rs 145/- per share, in two stages namely upto 1126000 warrants to be converted into equity shares on or before March 31, 2008 and upto 1182000 warrants to be converted into equity shares on or before August 31, 2008, in accordance with SEBI Guidelines on Preferential Issues.