Tricom India Ltd: Outcome of Board Meeting

Tricom India Ltd has informed BSE that the Board of Directors of the Company at its meeting held on April 16, 2011, inter alia, have approved conversion of 60,45,000 Fully Convertible Debentures (FCD's) of Rs. 20/-.

Each FCD is converted into 1 (One) Equity Share of Rs 2/- each Fully paid up at a Premium of Rs 10/- each. Hence, the FCD's are now converted into 60,45,000 Equity Shares of Rs 2/- each fully Paid-up.

The Board of Directors of the Company has allotted 60,45,000 Equity Shares of Rs. 2/- each on Preferential basis to the holders of FCD's on conversion.