La-Mere Apparels - Outcome Of AGM

La-Mere Apparels Ltd has informed that the members at the 14th Annual General Meeting (AGM) of the Company held on August 25, 2007, inter alia, have accorded to the following:

1. Adoption of the Audited Balance Sheet as on March 31, 2007, along with Directors Report and Auditors Report thereon.

2. Re-appointment of Shri. Mukund S Modi as a Director of the Company.

3. Re-appointment of M/s. Rakesh J Shukla & Associates, Chartered Accountants, as Auditors of the Company to hold office from the conclusion of this meeting until the conclusion of next Annual General Meeting of the Company, on remuneration, terms & conditions.

4. Alteration in the Articles of Association of the Company as follows:

After the existing Article 2, the following Article 2A be inserted, namely:Reduction of Capital etc.

2A. The Company may, by a Special Resolution, reduce in any manner, subject to any authorizations and approvals required under law:

I. its share capital;

II. any Capital Redemption Reserve Fund; or

III. any Securities Premium Account.

Any amounts standing to the credit of the Securities Premium Account may also be utilised, other than for capitalisation, for any purposes in accordance with the provisions of law.

5. Reduction in the paid up share capital of the Company from Rs 19,99,83,000/- divided into 1,99,98,300 Equity shares of Rs 10 each to Rs 4,99,95,750/- divided into 1,99,98,300 Equity Shares of Rs 2.50 each and that such reduction be effected by cancelling capital to the extent of Rs 7.50 per Equity shares i.e. Rs 14,99,87,250/- in respect of 1,99,98,300 fully paid up Equity shares of Rs 10/- each and by reducing the nominal amount of all the shares in the Companys capital from Rs 10/ each to Rs 2.5 per Equity Share.