Morepen Laboratories - EGM On May 04, 2007

Morepen Laboratories Ltd has informed that an Extra Ordinary General Meeting (EGM) of the members of the Company will be held on May 04, 2007, inter alia, to transact the following:1. Increase the Authorised Share Capital of the Company from Rs 85 crores to Rs 2,05,00,00,000 by creating additional 15,00,00,000 Equity Shares of Rs 2/- each and 90,00,000 Preference Shares of Rs 100/- each and consequential amendments in Memorandum of Association of the Company.2. To offer, issue and allot (i) upto 2,19,90,000 Equity Shares of Rs 2 each, (ii) upto 7,36,50,000 Warrants convertible into Equity Shares of Rs 2 each and (iii) upto 89,14,387 0.01% Optionally Convertible Preference Shares, at a price which is not less than the price as determined in accordance with the SEBI (Disclosure and Investor Protection) Guidelines, 2000 on the Relevant Date, to the allottees pursuant to a scheme of Corporate Debt Restructuring as per the Corporate Debt Restructuring framework specified by the Reserve Bank of India, on preferential basis in one or more tranches and on such terms and conditions as the Board deems fit, subject to necessary provisions & approvals.