Brels Infotech Ltd has informed BSE that the Board of Directors of the Company at its meeting held on July 01, 2008, inter alia, have refrained from recommending any dividend for the current year.

The Board, however, proposed that subject to consent of the shareholders in the Annual General Meeting to issue and allot 15,00,00,000 convertible warrants at Re 1/- each on a Preferential basis to applicants other than the Promoters Group, in due compliance of the SEBI regulation in this regard.