Sand Plast - Outcome of Board Meeting

Sand Plast (India) Ltd has informed BSE that in continuation of the decision of the Board in its meeting held on July 31, 2009, the Board of Directors of the Company at its meeting held on September 24, 2009, concluded the following decision with respect to the proposed right issue of the Company :

1. The total fund requirement for one time settlement with HUDCO under the term of BIFR scheme is Rs 8.50 Crores.

2. Working Capital requirement of the Company is Rs 2.80 Crores.

3. Issue exp for the proposed issue is Rs 30 Lakh.

to be receive by way of right issue From the existing shareholders of the Company in the
ratio of 1 share for every 3 Share at a premium of Rs 5 per share. The total issue size of the Company is 77,33,333 equity shares total amounting to Rs 11.60 Crores.

Further M/s Sobhagya Capital Option Ltd is appointed as Merchant Banker to the issue and RCMC Share Registry Pvt Ltd is appointed as Registrar to the issue.