RSWM - Outcome Of EGM

RSWM Ltd has informed that the members at the Extra Ordinary General Meeting (EGM) of the Company held on November 17, 2007, inter alia, have accorded the Board to create, offer, issue and allot on preferential basis:

a. 30,00,000 (Thirty Lacs) Warrants of Rs 87/- each aggregating to Rs 26,10,00,000 (Rupees Twenty Six Crore Ten Lac only) with option of conversion of each Warrant into one Equity Share of Rs 10/- each within a period of 18 months from the date of issue and allotment to Promoters, Directors and Persons acting in concert, which includes Associates, Relatives and Friends of such Promoters and Directors.

b. 5,00,000 (Five lac) Warrants of Rs 87/- each aggregating to Rs 4,35,00,000 (Rupees Four Crore Thirty Five Lacs only) with option of conversion of each Warrant into One Equity Share of Rs 10/- each within a period of 18 months from the date of issue and allotment to Employees of the Company, Group Companies and Associates Companies.

On such terms and conditions and in such manner as the Board may think fit.

Further resolved that, the issue price of Rs 87/- (Rupees Eighty Seven Only) per warrant which is in accordance with the SEBI pricing formula for Preferential Issues, is on the basis of the relevant date of October 18, 2007, being the date thirty days prior to the date of this resolution.