Surana Industries - Outcome Of EGM

Surana Industries Ltd has informed that the members at the Extra Ordinary General Meeting (EGM) of the Company held on February 11, 2008, inter alia, have accorded the following:

1. Authority to the Board to offer 8,00,000 (Eight Lacs Only) Equity Shares of Rs 10/- each at a premium of Rs 490/- each (i.e. at the rate of Rs 500/- per equity share), amounting, in aggregate, Rs 40 Crores (Rupees Fifty Crores only), for consideration other than cash, to the following SELECT PERSON (not being Promoters or belonging to die Promoter Group, including their relatives, friends and associates or their nominees, being a foreign corporate body) on preferential basis:

a. Agate Group (M) Sdn Bhd, Malaysia (OCB)

- No of Shares: 800000

2. Authority to the Board to offer 70,00,000 (Seventy Lacs only) EQUITY SHARES / FULLY CONVERTIBLE DEBENTURES / FULLY CONVERTIBLE PREFERENCE SHARES by way of Qualified Institutional Placement (including Mutual Funds), subject to necessary provisions & approvals.

3. Authority to the Board to offer 70,00,000 (Seventy Lacs Only) Share Warrants of Rs 300/- each (Rupees Three Hundred only) amounting, in aggregate, to Rs 210 Crores (Rupees Two Hundred and Ten Crores only) to the following PROMOTERS (or belonging to the Promoter Group, including their relatives, friends and associates or their nominees) on preferential basis:

i. Shri. G R Surana (Individual)

- No. of Share Warrants: 8,75,000

ii. Shri. Shantilal Surana (Individual)

- No. of Share Warrants: 8,75,000

iii. Shri. Vijayraj Surana (Individual)

- No. of Share Warrants: 8,75,000

iv. Shri. Dineshchand Surana (Individual)

- No. of Share Warrants: 8,75,000

v. Smt. Chandanbala Surana (Individual)

- No. of Share Warrants: 8,75,000

vi. Smt. Saraladevi Surana (Individual)

- No. of Share Warrants: 8,75,000

vii. Smt. Alka Surana (Individual)

- No. of Share Warrants: 8,75,000