Avon Organics - Outcome of EGM

Avon Organics Ltd has informed that the members at the Extra Ordinary General Meeting (EGM) of the Company held on December 03, 2007, inter alia, have approved the following:

1. Approved the increase in the Authorised Share Capital from Rs 18.00 crores to Rs 25.00 crores.

2. Authority to the Board of Directors to issue, offer and allot not exceeding 98,09,100 (Ninety Eight Lakhs Nine thousand one hundred only) fully, paid up equity shares of the Company of the face value of Rs 10/- each, for cash to Arch Pharmalabs Ltd (Non Promoter) in one or more trenches, in such form and manner and upon such terms and conditions as the Board may in its absolute discretion deem fit, at a price not exceeding Rs 20.00/- (Rupees Twenty only) subject to the SEBI Guidelines (as may be applicable) in this behalf and the relevant date for calculating the SEBI price being November 03, 2007, subject to necessary provisions & approvals.