Orbit Exports - Outcome Of EGM

Orbit Exports Ltd has informed that the members at the Extra Ordinary General Meeting (EGM) of the Company held on January 23, 2008, inter alia, have accorded the following:

1. Issue of 3,50,000 shares of Rs 10/- each at a price of Rs 32.15 per share and 10,00,000 warrants of Rs 10/- each (Convertible in to 1000000 Equity Shares at a price of Rs 32.15 per warrant) on preferential basis as per SEBI (DIP) Guidelines 2000 to the Promoters

(a) Pankaj Seth: 1,75,000 shares and 5,00,000 warrants

(b) Anisha Seth: 1,75,000 shares and 5,00,000 warrants

2. To issue of 30,00,000 warrants of Rs 10/- each (Convertible in to 30,00,000 Equity Shares at a price of Rs 32.15 per warrant) on preferential basis as per SEBI (DIP) Guidelines 2000 to the Strategic Investors.

(a) Ms. Ritu Jain : 5,00,000 warrant

(b) Newvenue Multitrade Pvt Ltd : 12,00,000 Warrants

(c) Mediaman Multitrade Pvt Ltd : 13,00,000 Warrants

The proposed Allottees have agreed to exercising their Right to subscribe in equity Shares on conversion of warrants as under:

(A) Promoter

(i) Pankaj Seth

- At any time during the Financial Year 2008-09 : 2,50,000

- At any time during the financial year 2009-10 but on or before 18 months from the date of allotment of warrants : 2,50,000

(ii) Anisha Seth

- At any time during the Financial Year 2008-09 : 2,50,000

- At any time during the financial year 2009-10 but on or before 18 months from the date of allotment of warrants : 2,50,000

(B) Non Promoter Group (Strategic Investors)

(i) Ms. Ritu Jain

- At any time during the Financial Year 2008-09 : 5,00,000

- At any time during the financial year 2009-10 but on or before 18 months from the date of allotment of warrants : --

(ii) Newvenue Multitrade Pvt Ltd

- At any time during the Financial Year 2008-09 : 12,00,000