Deepak Nitrite - Outcome Of Board Meeting

Deepak Nitrite Ltd has informed that pursuant to the approval of Warrant Holders of the Company in the Class Meeting held on September 21, 2007, the Board of Directors of the Company at its meeting held on October 27, 2007, has decided to offer equity shares in lieu of unexercised warrants to the Warrant Holders in the following manner:1. While applying for the conversion of Warrants held by them on Record Date the warrant holders may apply for additional shares over and above their entitlement for conversion of warrants into equity shares.2. The additional equity shares applied for will be allotted on pro rate basis of their holding, (as per the Basis of Allotment to be approved by the Stock Exchange) in lieu of unexercised warrants to the warrant holders applying for additional shares.The aforesaid information will be communicated to all the eligible warrant holders while sending a separate Warrant Exercise Application Form before the conversion period. The application form will inter alia contain a column for application of additional shares.