Consideration and approval of the conversion of 4,47,000 warrants into 4,47,000 equity shares by way of preferential allotment to the promoter and non promoter category pursuant to exercise of their right of conversion of warrants into equity shares and accordingly the Board of Directors have allotted 4,47,000 equity shares.\r\nPost conversion of warrants, the allottees are also entitled for 1,48,999 bonus shares reserved for outstanding convertible warrants in the ration 1:3.