The board of Webel-Sl Energy Systems has considered and proposed, subject to the approval of the Shareholders, issue of Bonus Shares in the ratio of one equity share of the Company of Rs 10 each for every one equity share held by the Shareholders of the Company (i.e., 1:1) as on the Record Date to be fixed later for this purpose.

The board has also proposed, subject to the approval of the Shareholders, alteration of the Memorandum of Association of the Company so as to increase the Authorised Share Capital from the existing Authorised Share Capital of Rs. 15,00,00,000 divided into 1,50,00,000 equity shares of Rs. 10 each to Rs. 30,00,00,000 divided into 3,00,00,000 equity share of Rs. 10 each.

The board has also approved the allotment of 248,000 equity shares of Rs. 10/- each at a premium of Rs. 140/- per equity share to Khushaal Investments Advisory, a Strategic Investor, consequent upon their option to exercise the conversion of 248,000 convertible warrants, out of 10,00,000 convertible warrants, allotted to them at Rs. 150/- per warrant, one warrant being convertible into one equity share each.

This was approved at the board meeting held on 31 October 2009.