Tatia Intimate - Outcome of Board Meeting

Tatia Intimate Exports Ltd has informed that the Board of Directors of the Company at its meeting held on February 12, 2008, inter alia, has transacted the following:
1. The Board received and put on record the Court Order approving the Scheme of Arrangement.
2. The Board decided to take action and implement the Court Order in the matter relating to:-
i. Capital Reduction
To give effect to the Capital Reduction of the Company
- Authorisation to Registar
The Board of Directors of the company has authorized the Registrar of the Company M/s. Cameo Corporate Services Ltd to initiate the process with regard to capital reduction with the depositories.
ii. Fresh Issue of shares
The Board of Directors has decided to issue fresh shares to the share holders of the transferor Company pursuant to the scheme of arrangement as approved by the Honble High Court after effecting the capital reduction on March 05, 2008.
Further the Board of Directors has decided to apply and obtain the requisite clearances from the respective Stock Exchanges with regard to above matters.
3. The Board of Directors reviewed the process for effecting the name change and the matters related to the same with various statutory authorities.
4. The Board of Directors reviewed the general operations of the Company relating to corporate and business matters.
5. Authorisation to Mr. E Subbarayan, Managing Director to make Application under clause 24A and other exchange and to comply with other exchange formalities.