Orbit Exports - Outcome Of Board Meeting

Orbit Exports Ltd has informed that the Board of Directors of the Company at its meeting held on April 22, 2008, inter alia, to consider the following :

1. Issue of 350000 shares of Rs 10/- each at a price of Rs 32.15 per share and 1000000 warrants of Rs 10/- each (Convertible into 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 : 175000 shares and 500000 warrants

b. Anisha Seth : 175000 shares and 500000 warrants

2. To issue of 3000000 warrants of Rs 10/- each (Convertible into 3000000 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 500000 warrants

b. Newvenue Multitrade Pvt Ltd: 1200000 warrants

c. Mediaman Multitrade pvt Ltd: 1300000 warrants

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

A. Promoter :-

1. Pankaj Seth
- At any time during the Financial year 2008-09 : 250000
- At any time during the financial year 2009-10 but on or before 18 months from the date of allotment of warrants : 250000

2. Anisha Seth
- At any time during the Financial year 2008-09 : 250000
- At any time during the financial year 2009-10 but on or before 18 months from the date of allotment of warrants : 250000

B. Non Promoter Group (Strategic Investor) :

1. Ms. Ritu Jain
- At any time during the Financial year 2008-09 : 500000
- At any time during the financial year 2009-10 but on or before 18 months from the date of allotment of warrants : --

2. Newvenue Multitrade Pvt Ltd
- At any time during the Financial year 2008-09 : 1200000
- At any time during the financial year 2009-10 but on or before 18 months from the date of allotment of warrants : --

3. Mediaman Multitrade pvt Ltd
- At any time during the Financial year 2008-09 : 1300000
- At any time during the financial year 2009-10 but on or before 18 months from the date of allotment of warrants : --

The above Resolution discussed and approved by the Board of Directors of the Company and shares and Warrants mentioned above have allotted to above allottees for which Stock Exchange permission has already received. Further Company has already received full amount against shares and 10% against warrants.