Shiva Cement - Outcome Of Board Meeting

Shiva Cement Ltd has informed that the Board of Directors of the Company at its meeting held on April 19, 2007, inter-alia, has approved the following:1. To increase Authorised Share Capital of the Company from Rs 28 crores to Rs 40 crores.2. To consider issue of 1.45 crore nos. of Equity Share of Rs 2/- each at a premium of Rs 9/- per share and 2.27 crores of Equity Share Warrants of Rs 2/- each at a premium of Rs 9/- each to ACC Ltd on a preferential allotment basis and 0.3 crores Equity Share Warrants of Rs 2/- each at a premium of Rs 9/- in favour of Roughells Fashions Pvt Ltd on a preferential allotment basis, both subject to approval of shareholders of the Company. The issue price of Rs 11/- per share is not below the price computed in compliance with the requirements of Chapter XIII of the SEBI (Disclosures & Investor Protection) guidelines, 2000.3. To approve the increase in borrowing powers upto Rs 400 crores.