Vivimed Labs - Outcome of Board Meeting

Vivimed Labs Ltd has informed that the Board of Directors of the Company at its meeting held on December 03, 2007, inter alia, has decided the following:

1. Issue, offer & allot 1880000 Warrants, convertible into equity shares at a later date, to the Promoters and Persons other than the promoters, by way of preferential basis, at an issue price of Rs 148/- per warrant as determined in accordance with the Preferential Issue Guidelines given in Chapter 13 of SEBI (DIP) Guidelines, 2000.

2. Appointment / Re-appointment of Directors & Statutory Auditor of the Company.

3. Increase of remuneration payable to Managerial Personnel.

4. Allotment of shares pursuant to merger of VVS Pharmaceuticals & Chemicals Pvt Ltd could not be considered due to non receipt of certified copy of the order of approval of merger by Honble High Court of Karnataka.