Peninsula Land - Outcome Of AGM

Peninsula Land Ltd has informed that the members at the Annual General Meeting (AGM) of the Company held on September 21, 2007, inter alia, have accorded for effecting sub-division of the paid-up Equity Share Capital of the Company comprising of 4,70,90,244 Equity Shares of Rs 10/- each in the Equity Capital of the Company, into 23,54,51,220 Equity Shares of Rs 2/- each.

Further resolved that, in pursuance of Section 16 and other applicable provisions of the Act, the existing Clause V of the Memorandum of Association of the Company be substituted with the following clause:

The Authorized Share Capital of the Company is Rs 52,00,00,000 divided into 25,99,95,000 Equity Shares of Rs 2/- aggregating to Rs 51,99,90,000/- and 1,000 5% Cumulative Redeemable Preference Shares of Rs 10/- each aggregating to Rs 10,000/ and the Share Capital shall be capable of being increased and reduced in accordance with the Companys Regulations and Legislative provisions for the time being in force in that behalf, with power to divide the shares in the Capital for the time being into Equity Share Capital and Preference Share Capital and to attach thereto respectively any preferential, qualified or special rights, privileges or conditions.

Further resolved that, the nominal value of equity shares wherever it appears in the Memorandum and Articles of Association of the Company or any other documents of the Company be replaced by Rs 2/- in place of Rs 10/-.