Southern Online - Outcome Of Board Meeting

Southern Online Bio Technologies Ltd has informed that the Board of Directors of the Company at its meeting held on October 05, 2007, inter alia, has passed the following resolutions:

1. Resignation of Director : the resignation of Mr. B Suresh was accepted by the board.

2. Appointment as Director Mr. Dipen K Sheth was appointed as an additional director.

3. Preferential Issue:

The Board has approved subject to approval of the Shareholders at the AGM, to raise an amount upto Rs 23.268 Crores by way of preferential issue of 28 lakh warrants to promoters, convertible into Equity shares at Rs 30/- per share (including premium of Rs 20/- per share) and by way of preferential issue of 2 lakh Equity shares to promoters at Rs 30/- per share (including premium of Rs 20/- per share) and preferential issue of up to 47.56 lakh Equity shares to entities / persons other than promoters / promoter group at Rs 30/- per share (including premium of Rs 20/- per share).