Brushman India - Outcome Of Board Meeting

Brushman India Ltd has informed that the Board of Directors of the Company at its meeting held on October 31, 2007, inter alia, has decided the following:1. The Board of Directors decided to issue, offer and allot, in domestic / international offering, any securities including Global Depository Receipts and / or American Depository Receipts / Qualified Institutional Placement (QIP) / Preferential Allotment / Foreign Currency Convertible Bonds (FCCB) convertible into equity shares / preference shares, convertible at the option of the Company and / or at the option of holders of the security and / or security linked to equity shares, preference shares and / or any instruments representing convertible securities such as convertible bonds, convertible debentures convertible into equity shares / preference shares / loan(s) or borrowing(s) convertible into equity shares (Securities) to be subscribed by Foreign Investors / Institutions and / or Corporate Bodies, Mutual Funds, Banks, Insurance Companies, Trusts and / or Individuals or otherwise, whether or not such persons / entities / investors are Members of the Company, such issue and allotment shall be made at such time or times in one or more tranche or tranches, at such price or prices as specified by relevant guidelines issued by Securities & Exchange Board of India and / or any other relevant authority, and on such terms and conditions as the Board / Committee of Directors may, in its absolute discretion thinks fit, in consultation with the Lead Managers, Underwriters, Advisors or other intermediaries; provided however that the amount to be raised through issue of securities shall not exceed USD 35 million (Thirty Five Million US Dollars).2. Calling of Extra Ordinary General Meeting of the members of the Company on December 05, 2007, to get the shareholders approval for the above.