Brushman India - Outcome Of Board Meeting

Brushman India Ltd has informed that the Board of Directors of the Company at its meeting held on May 30, 2007, inter alia, has taken the following decisions:Decided to offer, issue & allot:a. 54,60,000 Fully Convertible Debentures (FCDs) of Rs 150/- each bearing a coupon of upto 10% per annum, which will be converted into an equal no. of equity shares of Rs 150/- each (inclusive of a premium of Rs 140/- each) within 18 months from the date of allotment.ANDb. 14,00,000 equity warrants convertible into an equal no. of equity shares of at aprice of Rs 150/- each (inclusive of a premium of Rs 140/- each) within 18 months from the date of allotment.both on preferential basis to Sabre Abraaj Infrastructure Company Pvt Ltd, Mauritius, in accordance with the provisions of Section 81(1A) and other applicable provisions, it any, of the Companies Act 1956 (including any amendment or re-enactment thereof) (Act), Foreign Exchange Management Act, 1999, the Listing Agreements entered into by the Company with the Stock Exchanges where the shares of the Company are listed, and in accordance with the applicable guidelines / rules / regulations / notifications / press notes issued by the Securities and Exchange Board, of India (SEBI) including Chapter XIII of the SEBI (Disclosure and Investor Protection) Guidelines 2000, Reserve Bank of India (RBI), Government of India or any other statutory / regulatory authority, and clarifications / circulars thereon, issued from time to time, if any, and in accordance with the enabling provisions of Memorandum and Articles of Association of the Company, and subject to all such statutory, regulatory and government approvals, premises or sanctions as may be necessary and subject to such conditions, and modifications as may be prescribed or imposed by any one or more of them while granting such approvals, permissions or sanctions.