Gremach Infrastructure Equipments & Projects Ltd has informed BSE that the Board of Directors of the Company at its meeting held on May 23, 2008, inter alia, has proposed as under:

- To allot 1,50,00,000 numbers of convertible warrants of equity shares on private placement / Preferential basis to promoters, their friends, relatives, promoter group Companies and to others subject to approval of members of the Company and other laws and regulations as applicable at the price in accordance with the SEBI guidelines.