Northgate Technologies - Outcome Of Board Meeting

Northgate Technologies Ltd has informed that the Board of Directors of the Company at its meeting held on July 07, 2007, inter alia, has approved the following:1. To create, offer, issue and allot in one or more tranches, in the course of domestic / international offerings, equity shares and / or equity shares through Global Depository Receipts (GDRs) / Foreign Currency Convertible Bonds (FCCBs), whether listed on any stock exchange inside India or any international stock exchange outside India, through an offer document and / or prospectus and / or offer letter and / or offering circular and / or information memorandum, and / or listing particulars, up to an amount not exceeding Rs 450 Crore or equivalent foreign currency inclusive of such premium subject to the approval of the Members of the Company in the General Meeting.2. To increase the Authorized Share Capital to Rs 50 Crores from Rs 23 Crores.