Shaktiman Mercantile Company Ltd has informed BSE that the Board of Directors of the Company at its meeting held on July 15, 2008, inter alia, has unanimously approved the following subject to necessary approval, permission, consent, sanction:

1. Alteration in Main Objects Clause by substituting the New Main Object Clause in place of existing.

2. Alteration in Clause 8 of the Objects Incidental or Ancillary to the Attainment of the Main Objects Clauses of Memorandum of Association the Company by insertion of certain words.

3. Adoption of New set of Articles of Association of the Company in substitution and exclusion of existing set of Articles of Association.

4. Obtain consent of the Members of the Company through Postal Ballot and issue notices for Postal Ballot for resolution at (1, 2 & 3).

5. Appoint scrutinizers for the postal ballot for resolution at (1)(2) & (3).