Sintex Industries - Outcome of EGM

Sintex Industries Ltd has informed that the members at the Extra Ordinary General Meeting (EGM) of the Company held on December 24, 2007, have passed the following resolutions:

1. To increase in Authorized Equity Share Capital of the Company and consequential to amend the Memorandum and Articles of Association of the Company in terms of increase in Authorised Capital of the company to Rs 65.00 Crores divided into 25,00,00,000 Equity Shares of Rs 2/- each and 15,00,000 Preference Shares of Rs 100/- each.

2. To raise an additional funds upto an amount of USD 300 Million by Issue of FCCBs / GDRs / ADRs in one or more foreign markets subject to necessary provisions and approvals.

3. Issue and allot Equity Shares upto USD 150 Million in one or more tranches to Qualified Institutional Buyers (QIBs) with an option to retain such amount of subscription not exceeding 15% of the amount of the Initial offer of each of the trenches.

4. Issue and allot 1,32,00,000 warrants optionally convertible into equal number of EquityShares to Opel Securities Pvt Ltd and Kolon Investment Pvt Ltd (promoters) instead ofBVM Finance Pvt Ltd, Opel Securities Pvt Ltd and Kolon Investment Pvt Ltd as proposed,on preferential allotment basis at a price of Rs 454.74 per warrants as per applicable SEBI Guidelines, subject to necessary provisions and approvals.

5. To increase the remuneration of Shri. Satyanarayan B Dangayach, Managing Director of the Company.

6. To increase the limit of borrowing powers of Directors not exceeding Rs 2500 Crores.