NECLIFE | Nectar Lifesciences Limited

NECLIFE | Nectar Lifesciences Limited

Nectar Lifesciences Limited has informed the Exchange that the Board of Directors in their meeting held on August 22, 2008 has approved the followings: 1) The signing of non binding term sheets for issue of preferential equity with: a) Citi Venture Capital International, b) Everest Capital (M) Limited. 2) The issue of GDRs/ ADRs/ or any other international offering up to 50 Million US Dollars. To seek approval of shareholders for the above purposes u/s 81(1A) of the Companies Act, 1956, an Extra - Ordinary General Meeting of the company is proposed to be convened on September 16, 2008.