EKC EGM outcome

Everest Kanto Cylinder Ltd has informed that an Extra Ordinary General Meeting (EGM) of the members of the Company will be held on November 07, 2007, to issue, offer and allot upto 35,48,027 (Thirty Five Lakhs Forty Eight Thousand Twenty Seven) equity shares ("new equity shares") of the face value of Rs 2 (Rupees Two Only) each of the Company for cash at a premium of Rs 248 (Rupees Two Hundred and Forty Eight Only) per share of which upto 32,00,000 (Thirty Two Lakhs) new equity shares be offered for subscription on preferential basis to TVG India Investment Holdings Ltd, a subsidiary of a fund advised by TVG Capital Partners Ltd and upto 3,48,027 (Three Lakhs Forty Eight Thousand Twenty Seven) new equity shares be offered for subscription on preferential basis to Brightwill Ltd, a subsidiary of a fund managed by CLSA Private Equity Management Ltd ("TVG India Investment Holdings Ltd and Brightwill Ltd" jointly referred to as "the Investors") in one or more tranches and an such terms and conditions and in such manner as the Board may think fit, without offering the same to any other persons who at the date of offer are holders of shares of the Company, subject to necessary provisions & approvals.