Visu International - Outcome Of EGM

Visu International Ltd has informed that the members at the Extra Ordinary General Meeting (EGM) of the Company held on August 31, 2007, inter alia, have accorded to the following:

1. Increase in the Authorized Share Capital of the Company from Rs 52,00,00,000/- divided into 5,20,00,000 Equity Shares of Rs 10/- each, to Rs 100,00,00,000/- divided into 10,00,00,000 Equity Shares of Rs 10/- each, ranking pan passu with the existing equity shares & consequential amendments in the Memorandum of Association of the Company.

2. Authority to the Board of Directors of the Company to issue and allot, in the course of international offerings in one or more foreign markets, in the form and / or name of Global Depository Receipts or otherwise, equity shares and / or any securities convertible into equity shares at the option of the company and / or holder of the securities representing either Equity shares or convertible securities representing either Equity shares or convertible into equity shares (Securities) subscribed in foreign currency(ies) to foreign investors (Whether institutions and / or incorporated bodies and / or individuals or otherwise, and whether or not such investors are members of the Company), for (or which, upon conversion of all securities so issued or allotted, could give rise to the issue of) and upto an amount of USD 20 million and an aggregate number equity shares or such receipts or instruments equivalent to 50 million equity shares of Rs 10/- each including the over allotment option, if any, as decided by the company / underwriters, such issue and allotment to be made at such time or times, in such tranche or tranches, at such Price or Prices at a discount or premium to market price or prices, in such manner as the Board may, in its discretion think fit, in consultation with the lead manager and underwriters, and otherwise on such terms and conditions as may be decided and deemed appropriate by the Board at the time of issue or allotment, subject to necessary provisions & approvals.