Valecha Engineering - Outcome Of Board Meeting - Oct 11, 2008

Valecha Engineering Ltd has informed that the Board of Directors of the Company at its meeting held on October 10, 2008, inter alia, have allotted 59,76,675 equity shares of Nominal Value of Rs 10/- each as Bonus Shares in proportion of One new fully paid equity share of Rs 10/- each for every Two equity shares of Rs 10/- each.

Valecha Engineering - Outcome Of EGM

Valecha Engineering Ltd has informed that the members at the Extra Ordinary General Meeting (EGM) of the Company held on February 11, 2008, has decided that considering the market conditions / sentiments & representation made by various share holders and allottees, the 19,00,000 warrants would not be issued to promoters and other entities as mentioned in the resolution and the resolution / issue was withdrawn with the unanimous consent of the shareholders. The same would be taken up at a more appropriate time.

Valecha Engineering - Outcome Of Board Meeting

Valecha Engineering Ltd has informed that the Board of Directors of the Company at its meeting held on January 11, 2008, has decided to issue Convertible Warrants into Equity Shares on Preferential basis to the following Promoters / Promoter group and other investors upto 19,00,000 warrants at a price not lower than the minimum price specified as per SEBI Guidelines for Preferential Issue under SEBI (Disclosure and Investor Protection) Guidelines, 2000 but not less than Rs 322/- per equity share.

A. PROMOTERS / PROMOTER GROUP

1. Valecha Investments Pvt Ltd : 12,70,000 Number of Warrants to be allotted

2. Mr. Vasudev P Valecha : 15,000 Number of Warrants to be allotted

3. Mrs. Lata V Valecha : 10,000 Number of Warrants to be allotted

4. Mr. Ramchand H Valecha : 10,000 Number of Warrants to be allotted

5. Mr. Prakash H Valecha : 15,000 Number of Warrants to be allotted

6. Ms. Pooja R Valecha : 5,000 Number of Warrants to be allotted

B. INDEPENDENT DIRECTORS

- Mr. Arvind M Thakkar : 20,000 Number of Warrants to be allotted

C. OTHER ENTITIES

1. Sha InvestCo (India) Pvt Ltd : 4,15,000 Number of Warrants to be allotted

2. Praxis Advisors Pvt Ltd : 20,000 Number of Warrants to be allotted

3. Mrs. Honey A Harish : 20,000 Number of Warrants to be allotted

4. Mr. K S Shetty : 15,000 Number of Warrants to be allotted

5. Mr. A B Gogate : 15,000 Number of Warrants to be allotted

6. Mr. S B Watve : 15,000 Number of Warrants to be allotted

7. Mr. S N Kavi : 15,000 Number of Warrants to be allotted