Sanghvi Movers - Outcome Of Board Meeting

Sanghvi Movers Ltd has informed that the Board of Directors of the Company at its meeting held on April 15, 2008 has approved Expansion Plan of Rs 250 Crores for the financial year 2008-09 which will be funded partly out of debt and partly out of internal accruals.

Sanghvi Movers - Outcome Of Board Meeting

Sanghvi Movers Ltd has informed that the Board of Directors of the Company at its meeting held on March 08, 2008, has considered and allotted 8,79,580 Equity Shares of Rs 2/- each of the Company on exercise of option of conversion of 1,75,916 outstanding Warrants issued to the Promoters of the Company. The details are as follows:

(1) Name of Promoter : Mrs. Sanghvi Mina Chandrakant

- No of Warrants Converted : 1,63,916

- No of Shares converted into Shares (Face Value of Rs 10/- each) : 1,63,916

- No of Shares allotted (Face value of Rs 2/- each) due to sub-division of shares from Rs 10/- each to Rs 2/- each. : 8,19,580

(2) Name of Promoter : M/s Sanghvi Hi-Lift Pvt Ltd

- No of Warrants Converted : 12,000

- No of Shares converted into Shares (Face Value of Rs 10/- each) : 12,000

- No of Shares allotted (Face value of Rs 2/- each) due to sub-division of shares from RS 10/- each to Rs 2/- each. : 60,000

Consequently the fully paid-up capital of the Company stands increased to Rs 8,65,76,000/- divided into 4,32,88,000 Equity Shares of Rs 2/- each.