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| Exchange Disseminated Time | Wearology Ltd has informed BSE that the Board of Directors of the Company at its meeting held on February 21, 2007 inter alia, has considered and approved the following:
1. The Board took on record the Postal Ballot Report dated February 21, 2007 received from M/s. Rathi and Associates, Company Secretaries whereby the following was noted:
a) The shareholders of the Company by way of Postal Ballot have passed Special Resolution pursuant to section 372A of the Companies Act 1956 authorizing the Board of Directors to Subscribe, Purchase or otherwise, Equity Shares of Gopi Resorts Pvt Ltd to the extent of approximately Rs 7 Crores only.
b) The Shareholders of the Company by way of Postal Ballot have passed the Special Resolution pursuant to section 17 of the Companies Act 1956 for the Alteration of the Memorandum of Association of the Company by the addition of flew Sub-clauses No: 5 & 6 in the Main Objects Clause III (A) of the Memorandum of Association of the Company after the existing sub-Clause No: 4 for activities relating to the Real Estate Business.
2. The Board further approved the purchase of 100% equity share capital of Gopi Resorts Pvt Ltd (the said Company) for a consideration of Rs 6.91 crores, The said Company is
holding approximately 100 acres of land at Karjat.
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