Citurgia Biochemicals - Outcome Of Board Meeting

Citurgia Biochemicals Ltd has informed that the Board of Directors of the Company at its meeting held on April 10, 2007, inter alia, took the following decisions:1. The Board noted that Honble BIFR vide its order dated January 12, 2007, read with Sanctioned Rehabilitation Scheme, has directed that the paid up share capital of the Company shall stand reduced by 95% i.e. from Rs 338.12 Lacs to Rs 16.906 Lacs.2. For the aforesaid purpose of reduction of capital, 1 Equity share of Rs 10/- each will be allotted as fully paid up in view of 20 Equity shares of Rs 10/- each to the Shareholders of the Company.3. The Board noted that the CoPromoter M/s. Elite Capital and Management Services Pvt Ltd, and its Associate Companies have already brought in Rs 625 Lacs by way of Share Application / Allotment money towards their contribution in the Share capital of the Company. The Board decided to apply to the Bombay Stock Exchange Ltd for granting in-principle approval for issue arid allotment of 62,50,000 equity shares of Rs 10/- after giving effect to the reduction of Paid-up share capital of the Company.