Premier Explosives: Outcome of Board Meeting

Premier Explosives Ltd has informed BSE that the Board of Directors of the Company at its meeting held on May 29, 2013,
to augment the long term resources of the Company for the purpose of financing capital expenditure for the projects both at present & future and to augment the working capital of the Company, has approved subject to shareholders? approval, to issue up to 950000 Warrants on a preferential basis to the Promoters and Employees of the Company with each Warrant convertible into one Equity Share of the Company of nominal value of Rs.10/- each within a period not exceeding 18 months from the date of allotment of warrants, and on such other terms and conditions as the Board may in its absolute discretion decide at the time of issue of Warrants, and at such price or prices, including premium if any, as may be determined and approved by the Board in accordance with Section 81(1A) and all other applicable provisions, if any, of the Companies Act, 1956 and the provisions contained in the SEBI (Issue of Capital and Disclosure Requirements) Regulations 2009 including any statutory modifications and amendments from time to time for the time being in force.