United Phosphorus - Outcome Of EGM

United Phosphorus Ltd has informed that the members at the Extra Ordinary General Meeting (EGM) of the Company held on October 11, 207, inter alia, have accorded the following:

1. Increase of Authorised Share Capital of the Company from Rs 200,00,00,000/- (Two Hundred Crores) to Rs 300,00,00,000/-(Rupees Three Hundred Crores).

2. Alteration of existing Article 3 of the Articles of Association of the Company in respect of Authorised Share Capital of the Company.

3. Authority to the Board Directors to borrow any sum or sums of money from time to time, not exceed the Sum of Rs 10,000 crores (Rupees Ten Thousand Crores only).

4. Increase in the remuneration payable to Mr. Vikram R Shroff the Executive Director.

5. The raising of further equity by way of preferential issue of 3,11,70,000 (Three crores eleven lacs seventy thousand) warrants exercisable into equal number of equity shares of Rs 2 each of the Company to the Promoters as per SEBI Guidelines for Preferential Issues. An amount equivalent to 10% of the price to be determined as per SEBI Guidelines for each warrant would be paid on allotment of warrants and the remaining 90% would be paid at the time of subscription to equity shares on exercise of rights attached to the warrants within a period of 18 months.

6. Issue of Equity shares / FCCBs / GDRs / any other permissible instruments convertible into equity shares up to US $ 500 million to Qualified Institutional Buyers (QIBs) as per SEBI Guidelines for Qualified Institutions Placement (QIP) or to any other non resident investors / FIIs through private placement, in one or more tranches.