Gremach Infrastructure Board Allotment Of Equity Shares - June 29, 2009

Gremach Infrastructure Equipments & Projects Limited has informed that the Board of Directors of the Company at its meeting held on June 27, 2009, inter alia, has considered, discussed, and approved the following:

1. For raising of additional long term resources to part finance the Companys Capex and / or for other General Corporate purpose including reducing the leverage, depending on market dynamics, through Issue of Global Depository Receipts (GDRs) / American Depository Receipts (ADRs) / QIP / Warrants and / or otherwise, instrument convertible into Equity shares, optionally or otherwise, in one or more tranches, not exceeding USD 100 Million (United States Dollar one hundred Million only) in the aggregated, in the International Capital Market or its Indian Rupee Equivalent inclusive of such premium as may be determined by the Board, subject to the approval of the equity Shareholders at the ensuing Annual General Meeting.

2. Recommended divided of Rs 0.50 Per Equity Share having face value of Rs 10/- each for the financial year ended March 31, 2009 on its total paid-up Equity Share Capital subject to the approval of the equity Shareholders at the ensuing Annual General Meeting.

However, the discussion on the approval of Audited Financial Results for financial year 2008-2009, which was in the Agenda but could not be discussed hence the Board Meeting has been adjourned to June 30, 2009.