Bihar Tubes - Outcome Of Board Meeting

Bihar Tubes Ltd has informed that the Board of Directors of the Company at its meeting held on April 16, 2007, has taken the following decisions:1. To Allot 32,00,000 Warrants at price of Rs 140/- per Warrants on Preferential Basis to Promoters / PAC and Strategic Investors, with a right to subscribe equal number of equity shares of Rs 10/- each at a premium of Rs 130/-, on conversion within 18 months from the date of allotment of warrants, subject to the SEBIs Guidelines / Regulations and subject to the approval of competent authority(ies) including the Members of the Company in the General Meeting on such terms and conditions as approved by the Board.2. To Increase of Authorised Share Capital of the Company from Rs 10,00,00,000 divided into 1,00,00,000 Equity Shares of Rs 10/- each to Rs 16,00,00,000 divided into 1,60,00,000 Equity Shares of Rs 10/- each, subject to the approval of the Members of the Company in the General Meeting.3. To convene the Extra Ordinary General Meeting of the members of the Company on May 14, 2007 to authorize the allotment of warrants on Preferential basis to Promoters / PAC and Strategic Investors / Others and to increase the Authorised Share Capital of the Company.