Outcome of Board Meeting

Indovation Technologies Ltd has informed BSE that the Board of Directors of the Company at its meeting held on March 22, 2013, has considered and approved in pursuance of orders of Honble High Court of Andhra Pradesh dated December 31, 2012.

a. Conversion of unsecured loan amounting to Rs. 7,17,79,915/- into 71,77,990 equity shares of Rs. 10/- each as per the scheme of arrangement

b. Reduction & consolidation of paid up capital from Rs. 9,74,57,900/- to Rs. 97,45,790/- divided into 9,74,579 equity shares of Rs. 10/- each as per the scheme of arrangement.

c. Allotment of 15,00,000 new equity shares of Rs. 10/- each as per the scheme of arrangement.

Source : BSE - www.bseindia.com

Published on March 25, 2013
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