Sheetal Bio Agro - Outocome of EGM

Sheetal Bio Agro Tech Ltd has informed BSE that the members at the Extra Ordinary General Meeting (EGM) of the Company held on June 05, 2009, inter alia, have accorded to the following:

1. Increase the authorized share capital of the Company from Rs 14,00,00,000 (Rupees Fourteen Crores} divided in to 14,00,00,000 (Fourteen Crore) Equity shares of Rs 1/- (Rupee One) each to Rs 47,00,00,000 (Rupees Forty Seven Crores Only) divided in to 47,00,00,000 (Forty Seven Crores) Equity shares of Rs 1/-(Rupee One) each, ranking pari passu with the existing equity shares & consequential amendment in the Memorandum & Articles of Association of the Company.

2. Authority to the Board to create, offer, issue and allot, from time to time in one or more tranches any securities convertible into equity shares through Global Depository Receipts (GDR) and / or American Depository receipts (ADR) and / or Foreign Currency Convertible Bonds (FCCB) and / or equity shares under the Qualified institutional placement Guidelines (QIP) and / or any security convertible into equity shares at the option of the Company and / or holder(s) of the Securities and / or securities linked to equity shares and / or securities with warrants including any instruments or securities representing either equity shares and / or Foreign Currency Convertible debentures / partly convertible debentures or any securities, which are convertible or exchangeable with equity shares at a later date (Securities), for an amount not exceeding Rs 33 Crores (Rupees Thirty Three Crores) inclusive of such premium as may from time to time be decided, subject to necessary provisions & approvals.