Genus Power - Outcome Of Board Meeting

Genus Power Infrastructures Ltd has informed that the Board of Directors of the Company at its meeting held on March 15, 2008, inter alia, has considered and approved the scheme of arrangement for Demerger of the 6 Megawatt Power Unit of M/s. Genus Paper Products Ltd into the Company with effect from the appointed i.e. April 01, 2007 subject to the approval of shareholders, High Courts, Stock Exchanges and other Regulatory Authorities and compliance of other applicable regulations.The Company and M/s. Genus Paper Products Ltd both jointly had appointed M/s. S R Hegde & Co., Chartered Accountants to carry out the valuation exercise and to suggest entitlement ratio upon Demerger of 6 Megawatt Power Unit of M/s. Genus Paper Products Ltd with the Company. M/s. S R Hegde & Co., Chartered Accountants has submitted their report to the Board of Directors and recommended the entitlement ratio as under:The entitlement ratio for Issue of equity shares of Genus Power Infrastructures Ltd to the shareholders of Genus Paper Products Ltd as 1:60 i.e. 1 (One) equity share of face value of Rs 10/- each of M/s. Genus Power Infrastructures Ltd for every 60 (Sixty) equity shares of the face value of Rs 10/- each of Genus Paper Products Ltd.The Board of the Company and Genus Paper Products Ltd have accepted and approved the above entitlement ratio subject to the approval of shareholders, High Courts and compliance of other regulatory and applicable provisions etc.