Neo Sack - Outcome Of Board Meeting

Neo Sack Ltd has informed that the Board of Directors of the Company at its meeting held on January 19, 2008, has resolved to postpone the Extra-ordinary General Meeting to February 22, 2008 instead of the earlier date February 12, 2008, to seek the approval of the shareholders of the Company with respect to the following items of businesses:1. To re-classify the Authorized Share Capital of the Company and consequent changes in the Capital clause of Memorandum and Articles of Association of the Company to reflect the said re-classification of authorized share capital into Equity Shares and Cumulative Compulsorily Convertible Preference shares (CCCPS).2. To cancel un-issued Equity Shares represented by the forfeited shares subject to the approval of the stock exchange and the shareholders of the Company in General Meeting in terms of section 94(1)(e) of the Companies Act, 1956.3. To create, offer, issue and allot Cumulative Compulsorily Convertible Preference shares (CCCPS) convertible into Equity Shares to persons / entities, on preferential basis, belonging to non-promoter category at a price which is determined in accordance with the provisions of chapter XIII of SEBI (DIP) Guideline, 2000 and the Relevant date shall be determined as per the Chapter XIII of SEBI(DIP) Guidelines, 2000.