Gati Ltd: Conversion of Warrants and allotment of shares

Gati Ltd has informed BSE that the Committee of the Board of Directors of the Company has allotted 8,50,000
Equity Shares of Rs. 2/- each at a premium of Rs. 56/- per share to Mr. Mahendra Kumar Agarwal, one of
the promoters of the Company on conversion of 8,50,000 convertible warrants allotted to him on February 13, 2010 pursuant to the resolution approved by the Shareholders at their Extra Ordinary General Meeting held on January 11, 2010.

Consequent to the aforementioned allotment, the share capital of the company has increased from 8,51,54,900 shares aggregating Rs. 17,03,09,800/- to 8,60,04,900 shares aggregating Rs. 17,20,09,800/-. The Share Premium Account of the Company has been credited with an amount of Rs. 4,76,00,000/-.