Southern Iron - Outcome of AGM

Southern Iron & Steel Company Ltd has informed that the shareholders at the Annual General Meeting (AGM) of the Company held on July 19, 2007 have approved the issue / allotment of equity shares (at a premium of Rs 52/- per share) and / or Cumulative Convertible Preference shares (of a face value of Re 1/-) to be allotted on preferential basis, to the banks and financial institutions, on conversion of Optionally Convertible Loans.