Santowin Corporation Ltd: Outcome of Board Meeting

Santowin Corporation Ltd has informed BSE that the Board of Directors of the Company at its meeting held on April 06, 2011, approved the following businesses, and item No 2 & 3 subject to the approval of the shareholders of the company at their Extra Ordinary General Meeting.

1. The Board approved the allotment of 17,28,000 (Seventy Lacs Twenty Eight Thousand Only) equity shares on preferential basis to promoters and non promoters at a price of Rs. 115/- per share, face value of the share is Rs. 10/- and premium of Rs. 105/- per share.

2. To consider increase the Authorized Share Capital of the Company to Rs. 31.00 crores.

3. To consider raising of additional funds by way of issue of FCCB and GDR up to US Dollar 198 Million to foreign National, FIS etc.

4. To call Extra-Ordinary General Meeting of the Shareholder of the Company on May 09, 2011, at 11.00 am at the Registered Office of the Company.