Gupta Synthetics - Outcome Of Committee Meeting

Gupta Synthetics Ltd has informed that at the committee meeting of the Company held on March 31 2007, the following decision taken as under:The Board has considered and approved the 104900 Convertible Warrants Converted into 104900 Equity Shares. Out of that 60000 Equity Shares are allotted to Promoters, 44900 Equity Shares are allotted to other than promoters i.e. NRI. Pursuant to resolution passed in an Extra Ordinary General Meeting of the Company held on December 07, 2006 accordingly the Company is allotting the 209800 Bonus Shares to the said allottees which was kept in abeyance.