Shreyas Intermediates - Outcome Of Board Meeting

Shreyas Intermediates Ltd has informed that the Board of Directors of the Company at its meeting held on April 21, 2007, has passed a resolution for issuing the 1,20,00,000 - 10% Cumulative Redeemable Preference Shares of Rs 10/- each at a premium of Rs 5/- per share to the Promoter Group on preferential allotment basis.The Promoter Group comprising, inter alia, Mr. Dinesh Sharma, Mr. S I Sharma, Mrs. Snehalata Sharma, Mrs. Sohini Sharma, Mr. Shreyas Sharma, Ms. Shruti Sharma, Cyan Formulators Pvt Ltd., Malvika Harbopharma Pvt Ltd & Deft Holdings Pvt Ltd would subscribe to the said shares.