Balrampur Chini Mills outcome of EGM

Balrampur Chini Mills Ltd has informed that the members at the Extra Ordinary General Meeting (EGM) of the Company held on December 24, 2007, inter alia, have authorised the Board to issue offer and allot upto 73,00,000 (Seventy three lacs) equity shares of Re 1 each, at a price of Rs 92 per share (including Premium of Rs 91) and upto 1,00,00,000 (one crore) Convertible Warrants (Warrants), to be convertible at the option of Warrant holder in one or more trenches, within 18 (eighteen) months from its allotment date into 1 fully paid up Equity Share of the Company of face value of Re 1 each for cash at an exercise price of Rs 92 (including premium of Rs 91) for each warrant and to issue fresh Equity Shares on the conversion of the warrants, on such further terms and conditions as may be finalised by the Board to following persons belonging to Promoter Group:

a. Shri. Kamal Nayan Saraogi

- No of equity shares: 2363900
- No of Warrants: 4111000

b. Smt. Meenakshi Saraogi

- No of equity shares: 867800
- No of Warrants: 922000

c. Smt. Satyawati Saraogi

- No of equity shares: 222500
- No of Warrants: -

d. Mr. Karan Saraogi

- No of equity shares: 381200
- No of Warrants: -

e. Miss. Avantika Saraogi

- No of equity shares: 181200
- No of Warrants: -

f. Meenakshi Mercantiies Ltd

- No of equity shares: 1563400
- No of Warrants: -

g. Udaipur Cotton Mills Co. Ltd

- No of equity shares: 1720000
- No of Warrants: 4967000.