Almondz Global Securities

Almondz Global Securities Ltd has informed that the members at the 13th Annual General Meeting (AGM) of the Company held on September 18, 2007, inter alia, have accorded to the following:

1. Adoption of the Audited Balance Sheet as at March 31, 2007 and the Profit and Loss Account of the Company for the year ended on that date, together with the Directors Report and the Auditors Report thereon.

2. Declaration of dividend at the rate of 15% per equity share to the equity shareholders of the Company, for the Financial Year ended on March 31, 2007.

3. Re-appointment of Mr. Chand Krishna Tikku & Mr. Jagdeep Singh, as Directors of the Company.

4. Re-appointment of M/s. Tas Associates, Chartered Accountants, New Delhi, as Auditors of the Company to hold office from the conclusion of this Annual General Meeting till the conclusion of the next Annual General Meeting of the Company, on remuneration, terms & conditions.

5. Appointment of Mr. Krishan Lall Khetarpaul & Mr. Amar Singh Anand, as Directors of the Company, liable to retire by rotation.

6. Delisting of equity shares of the Company from the Delhi Stock Exchange Association Ltd.

7. Authority to the Board of Directors of the Company for investments by Foreign Institutional Investors (FIIs), Overseas Corporate Bodies (OCBs), Non-Resident Indians (NRIs), including their sub-accounts, ("Foreign Investors"), in the shares of the Company, by direct acquisition or purchase from the market under FEMA, subject to the condition that the total holding of all Foreign Investors put together shall not exceed 49 per cent of the issued share capital of the Company as may be applicable or such other maximum limit as may be prescribed from time to time.

8. The existing Clause 49 of the Articles of Association of the Company, be substituted by the following:

49. The Company may, by ordinary resolution, from time to time, alter the condition of Memorandum of Association as follows:

(a) Increase the Share Capital by such amount to be divided into shares of such amount as may be specified in the resolution.

(b) Consolidate and divide all or any of its share capital into shares of larger amount than its existing shares.

(c) Convert all or any of its fully paid-up shares into stock, and reconvert that stock into fully paid-up shares of any denomination.

(d) Sub-divide its existing shares or any of them into shares of smaller amount than is fixed by the Memorandum of Association, so however, that in the sub-division the proportion between the amount paid and the amount, if any, unpaid on each reduced share shall be the same as it was in the share from which the reduced share is derived; and

(e) Cancel any shares which, at the date of passing of the resolution, are unissued or shares issued but not taken up or agreed to be taken by any person and diminish the amount of its share capital by the amount of the shares so cancelled.

9. Reduction in the Authorised Capital of the Company from Rs 150000000/- consisting of 20000000 Equity Shares of Rs 6/- each and 300000 Preference Shares of Rs 100/- each to Rs 150000000/- consisting of 25000000 Equity Shares of Rs 6/- each by canceling 300000 Preference Shares of Rs 100/- each remaining unissued.

10. The existing Clause V of the Memorandum of Association of the Company, be substituted by the following:

V. The Authorised Share Capital of the Company is Rs 15,00,00,000 divided into 2,50,00,000 Equity Shares of Rs 6/- each with the power to the Board of Directors of the Company to increase or reduce the capital and to divide the capital of the Company for the time being into several classes therein and to attach thereto respectively such preferential, deferred, qualified or special rights, privileges or conditions as may be determined by or in accordance with the Articles of Association of the Company and to vary, modify or amalgamate or abrogate any such rights, privileges or conditions in. such manner as may for the time being be provided by the Articles of Association of the Company and as may be thought expedient.

11. Authority to the Board of Directors of the Company to issue, offer and allot, any securities in Indian or international markets including equity shares, Global Depository Receipts (GDRs) and / or American Depository Receipts (ADRs) convertible into equity shares at the option of the Company and / or at the option of the holders of the security(ies) and / or securities linked to equity shares and / or any instrument or securities representing convertible securities such as convertible debentures, bonds or warrants convertible into equity shares ("Securities") to be subscribed by foreign investors institutions and / or corporate bodies, mutual funds, banks, insurance companies, trusts and / or individuals or otherwise, whether or not such persons / entities / investors are Members of the Company, whether in Indian currency or foreign currency and such issue and allotment shall be made at such time or times in one or more tranche or tranches, at par or at such price/s and on such terms and conditions including with the differential rights as to dividend, voting or otherwise and in such manner as the Board may, in its absolute discretion, think fit, in consultation with the Lead Managers, Underwriters, Advisors or other intermediaries, provided, however, that the issue of securities as above shall not result in an increase of the issued and subscribed equity share capital of the Company by more than 6000000 Equity Shares (Post Preferential Allotment) of Rs 6/- each for cash at par or at a premium including oversubscription, if any, subject to necessary provisions & approvals.