Sarang Chemicals - Board Meeting on Aug 31, 2009

Sarang Chemicals Ltd has informed BSE that a meeting of the Board of Directors of the Company will be held on August 31, 2009, inter alia, to consider the following businesses:

1. To consider, raising further capital requirements of Rs 70.00 crores, which was earlier approved by the Shareholders for Rs 35.00 crores, for expansion purpose by anyone or combination of the following modes:

a. By way of issue of Global Depository Receipts (GDR) / American Depository Receipts / Foreign Currency Convertible Bonds (FCCB) and other securities, subject to necessary sanctions, approvals and applicable provisions of law.

b. By way of issue of Securities to Qualified Institutional Placement (QIP) subject to necessary sanctions, approvals and applicable provisions of law.