MIC Electronics Ltd has informed BSE that following resolution is passed by Circulation by the Board of Directors of the Company on June 02, 2008 :

- Cancellation of the allotment of Share Warrants proposed to be made on preferential basis to Mr. Vishnu Vardhan Goudm, Mr. K Brahmaiah and Mr. U Sita Rama Rao, authority to the Company to remove the name of the above three persons from respective joint proposal of allotment and allot the same to the remaining joint holders of respective accounts as specified below :

(i) Proposed Allottee : N R Giridhar Kumar & N Krishna Veni
- No of Warrants : 12000
- Percentage of Post Issue : 0.05

(ii) Proposed Allottee : Ch. Ramprasad & N Sitaramanswamy
- No of Warrants : 11000
- Percentage of Post Issue : 0.05

(iii) Proposed Allottee : K Ramaiah & S Hemalatha
- No of Warrants : 4000
- Percentage of Post Issue : 0.02.