Prakash Industries - Outcome of EGM

Prakash Industries Ltd has informed that the members at the Extra Ordinary General Meeting (EGM) of the Company held on December 28, 2007, inter alia, have passed the resolutions for issue of 62,50,000 equity shares and 1,12,50,000 warrants convertible into equity shares on preferential basis as per details given below:

1. Issue of shares : (Promoters)

(a) J M Financial Ventures Ltd : 1000000 no of shares

(b) Deutsche Securities Mauritius Ltd: 2500000 no of shares

(c) BRLP Mauritius Holdings II: 897000 no of shares

(d) BROMLP Mauritius Holdings II: 603000 no of shares

(e) Divya Shakti Trading Services Ltd: 1250000 no of shares

2. Issue of Warrants:

- Non Promoters

(a) Deutsche Securities Mauritius Ltd: 1250000 no of warrants

(b) Divya Shakti Trading Services Ltd: 3500000 no of warrants

- Promoters and their associates

(a) Prakash Industrial Finance Ltd: 2500000 no of warrants

(b) Prakash Capital Services Ltd: 2500000 no of warrants

(c) Techdrive Software Ltd: 700000 no of warrants

(d) Excel Fincap Pvt. Ltd: 800000 no of warrants.