Farmax Retail - Outcome of Board Meeting

Farmax Retail (India) Ltd has informed BSE that the Board of Directors of the Company at its meeting held on October 31, 2009, inter alia, has considered and approved the following:

- Introduction of an Employee Stock Option / Purchase Scheme, in accordance with the provisions of the Securities and Exchange Board of India (Employee Stock Option Scheme and Employee Stock Purchase Scheme) Guidelines, 1999, to issue, grant, offer equity options / shares to eligible employees of the Company in one or more tranches, not exceeding 10% of the paid-up equity share capital of the Company which may be adjusted for any corporate actions applicable from time to time.