Heritage Foods - Outcome Of EGM

Heritage Foods India Ltd has informed that the members at the Extra Ordinary General Meeting (EGM) of the Company held on November 28, 2007, inter alia, have accorded to the following matters:

1. Issue of 8,00,000 Warrants, each warrant convertible into one equity share of Rs 10/- each ranking pari-passu in all respects with the existing equity shares of the Company within a period of eighteen months from the date of the issue, to Smt. N Bhuvaneswari, Vice Chairman and Managing Director @ Rs 256/- per warrant pursuant to Chapter XIII of SEBI (Disclosure and Investor Protection) Guidelines, 2000.

2. Alteration of Memorandum and Articles of Association of the Company pertaining to Authorized Share Capital i.e., presently the Authorized Share Capital is of Rs 15 crores divided into 150 lakhs equity shares of Rs 10/- each, altered to 130 lakhs equity shares of Rs 10/- each and 20 laths preference shares of Rs 10/- each.

3. Issue of Shares / other Securities convertible into equity shares to the extent of not exceeding 19,00,000 equity shares of Rs 10/- each on such terms and conditions as may be determined by the Board of Directors of the Company to Qualified Institutional Buyers pursuant to Chapter XIIIA of SEBI (Disclosure and Investor Protection) Guidelines, 2000.