Valuemart Info - Outcome Of Board Meeting

Valuemart Info Technologies Ltd has informed that the Board of Directors of the Company at its meeting held on April 07, 2007, inter alia, has approved the following:1. To issue and allot 1,00,00,000 Equity Shares of Rs 2/- per share at a premium of Rs 4/- per share (the issue price being not less than the price as arrived at, in accordance with the terms of Chapter XIII of SEBI Disclosure and Investor Protection Guidelines, 2000) either in for cash or for advance amount received if any, as may be deemed most appropriate by the Board, on preferential basis to the Strategic Investors.2. The issue and allotment will be made in accordance with the guidelines, rules and regulations made / framed by the Securities and Exchange Board of India and subject to the approval of members of the Company.