IKF Technologies

IKF Technologies Ltd has informed that the Shareholders at the Annual General Meeting (AGM) of the Company held on September 20, 2007, inter alia, have considered and approved the following business:

1. Adopted the audited Balance Sheet as at March 31, 2007 and Profit & Loss Account for the year ended on that date with Auditors and Directors Reports thereon.

2. Declared the final dividend @ 5% on Equity Shares of Re 1 each for the year ended March 31, 2007.

3. Re-appointment of Mr. Pradeep Kumar and Mr. R P Singh as Directors of the Company.

4. Re-appointment of M/s. Agarwal Vishwanath & Associates as Statutory Auditors of the Company for Financial Year 2007-08.

5. Appointment of Mr. Gajanand Gupta, as Director of the Company liable to retire by rotation.

6. Accorded the approval for delisting of securities of the Company from The Hyderabad Stock Exchange Ltd but did not approve the delisting from Calcutta Stock Exchange Association Ltd.

7. Approved the further issue of INR 1000 Crores (subject to a limit of INR 500 Crores from the International Market) subject to the provision of the Memorandum and Articles of Association of the Company, section 81(1A) of the Companies Act, 1956, guidelines issued by the Securities & Exchange Board of India (SEBI) and other applicable provisions, if any, by way of public issue, right issue, preferential issue, private placement, euro issue, foreign issue, Global Depository Receipts (GDR), American Depository Receipts (ADR), Foreign Currency Convertible Bonds (FCCB), reservation on competitive basis, reservation on firm allotment basis or a combination thereof in the domestic and international market(s) and also to seek the listing of such securities in any one or more of the International / National Stock Exchanges.

8 & 9. Authorised and empowered the Board pursuant to Section 293(1)(d) of the Companies Act, 1956, to borrow from time to time any sum or sums of money not exceeding INR 500 crores from one or more bank, financial institution Central or State Government body corporate , firms or any other person and for this purpose mortgage, hypothecate, pledge or charge all present or future movable or immovable properties of the Company and whole of undertaking of the Company.

10. Approved in make an investment under Section 372A of the Companies Act, 1956 upto an amount not exceeding INR 100 Crores through direct subscription or market purchase or off market negotiated deals the funds of the Company in excess of 60% of the Paid up Capital and Free Reserves of the Company or 100% of the free reserves of the Company, whichever is more, in the shares and / or any other securities of any subsidiary, Special Purpose Vehicle, Joint Venture Company and / or Body Corporate of the Company.

11. Considered and approved the issue and allotment of 3,00,00,000 warrants @ Rs 12/- each with an entitlement to convert into / exchange with the equal number of Equity Shares of the Company in one or more tranches at the option of the warrant holders within a period of 18 months from the date of issue of such convertible warrants, subject to the provisions of Section 81(1A) of the Companies Act, 1956, the Memorandum and Articles of Association of the Company, the Securities and Exchange Board of India (Disclosure and Investor Protection) Guidelines, 2000, the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 1997, Listing Agreement and guidelines issued by the Reserve Bank of India or other competent authorities in this behalf and other applicable provisions, if any. The warrants are being issued to the Non Promoters Group.