Diamond Cables Board approves Bonus Issue

Diamond Cables Ltd has informed BSE that the Board of Directors of the Company at its meeting held on October 29, 2009, inter alia, has :

1. Approved the issue of 20,00,000 warrants at Rs 210 per warrant aggregating Rs 42.00 crores, the said warrants shall be convertible into equity shares within 18 months from the date of issue as per guidelines of SEBI. On full conversion of shares, the promoters holding shall increase by 9.5%.

2. Approved issue of Bonus Shares to existing shareholders of the Company in the ratio of one bonus shares for every three existing share; and

3. Convened Extra Ordinary General Meeting on November 21, 2009 for obtaining shareholders approval for issue equity shares & bonus shares & increase in authorized capital.