Xpro India - Outcome Of Board Meeting

Xpro India Ltd has informed that the Board of Directors of the Company at its meeting held on April 23, 2007, has proposed, subject to shareholder approval:1. To offer, in accordance with the SEBI guidelines, upto 4,25,000 Equity Shares of Rs 10/- each and upto 5,00,000 Convertible Warrants on a preferential basis to Promoters / Promoter Group; and2. To formulate an Employee Stock Option Scheme for granting upto 5,03,750 Equity Shares of Rs 10/- each in accordance with SEBI (Employee Stock Option Scheme and Employee Stock Purchase Scheme) Guidelines, 1999.3. M/s. Khimji Kunverji & Co., Chartered Accountants, has expressed their un-willingness to be reappointed as Auditors and the Board has proposed the appointment of M/s. Deloitte Haskins & Sells, Chartered Accountants, as Statutory Auditors of the Company at the ensuing Annual General Meeting.