Sheetal Bio Agro Tech Ltd has informed BSE that the members at the Extra Ordinary General Meeting (EGM) of the Company held on March 17, 2008, inter alia, have discussed / approved the following:

1. Issue of Preferential Shares

The said Resolution was passed as Special Resolution and members if the Company has approved to issue further shares of Company to Bodies Corporate, Individuals or other entities whether or not such investors are members of the Company on preferential allotment basis. It was decided to issue and allot 8,99,41,000 Equity Shares of Re 1 each for cash at a premium of Re 0.55 on preferential basis.

2. Increase in Authorised Share Capital of the Company

The said resolution was passed as Special Resolution and members of the Company have approved to Increase the Authorised Share Capital of the Company from Rs 6 crores to 14 crores divided into Fourteen Crores Equity shares of Re 1 each.