Videocon Appliances - Outcome Of Board Meeting

Videocon Appliances Ltd has informed that the Board of Directors of the Company at its meeting held on May 21, 2007, inter alia, has transacted the following:1. Approved the Valuation Report obtained from M/s. G D Apte & Co., Chartered Accountants, recommending swap ratio of 1 (One) fully paid-up Equity Share having face value of Rs10/- of the Company for every 18 (Eighteen) Equity Shares held in Ranjangaon Industries Pvt Ltd, upon sanction of the Scheme.2. March 01, 2006 has been fixed as the Appointed Date for the purpose of amalgamation of Ranjangaon Industries Pvt Ltd with the Company.3. Approved Draft of the Scheme of Amalgamation of Ranjangaon Industries Pvt Ltd (formerly: Matsushita Washing Machine India Pvt Ltd) with the Company, subject to requisite approvals, as may be required and subject to sanction of the Scheme by the Honble High Court of Judicature at Bombay.