Madhusudan Securities Ltd: Outcome of Board Meeting

Madhusudan Securities Ltd has informed BSE that the Board of Directors of the Company at its meeting held on February 09, 2011, inter alia, has considered and approved the following:

1. The Board has decided to Convene an Extra ordinary General Meeting (EGM) on March 15, 2011 to obtain the shareholders' approval to the following:

a. To alter the Capital Clause in the Memorandum of Association to increase authorized share capital of the Company from Rs. 5 crore to 15 crore.

b. To consider issue of shares or any other instruments or securities to HNI's, financial Institutions, FII's, MFs, etc. on a preferential basis or through a QIP, or any other mode.

c. To issue 6,142,857 Equity Shares of Rs. 10/- each at a premium as per SEBI Guidelines to Primus Retail Private Ltd inconsideration of acquisition of Brand Weekender under the Business Transfer Agreement dated February 04, 2011.

2. The Board has decided to alter the Objects clause, through postal ballot, by shifting the following Existing clause in Other Objects into the Main Objects the Company:

5. "to manufacture, export, import, sell and deal in readymade or made to measure garments of all kinds and types and in particular shirts, bush shirts, trousers, night dresses, swimming dresses, sleeping suits, dressing gowns, children's wear, men's wear, handkerchief, ladies' wear, coats, sports shirts, Jackets and underwear from cotton, silk wool, terrylene, terry cotton, synthetic fibers and making mixtures thereof and from all other textiles".

3. The Board has recorded notices received from the Shareholders under regulation 13(1), 13(3), 13(4) & 7(1).