Reliance Communications share news and announcements

Jan 2007

• 10 Jan · Board meeting

  The Board of Directors of Reliance Communications Limited at its meeting held today i.e. Wednesday, the 10th January, 2007 has inter alia decided the following: 1) The Board reaffirmed its interest in the potential opportunity relating to the business of Hutchison Essar Limited (HEL). The Board authorised Shri Anil D. Ambani, the Chairman to tale all necessary steps for this purpose including raising long term resources in the form of External Commercial Borrowing (ECB) etc; as may be appropriate. The Board noted that there is no certainty either on the completion, or the timing, of the said proposal. 2) The Board also approved Issuance of Foreign Currency Convertible Bonds (FCCBs). In the International markets, in one or more tranches, upto US $ 1 Billion or equivalent thereof, at a premium to the markets price of the equity shares of the Company. 3) To implement the Employee Stock Option Scheme (ESOS) as approved by the Members of the Company through Postal Ballot, the results whereof were declared on 8th January, 2007 and constitution of ESOS Compensation Committee consisting of Independent Directors of the Company for administering the ESOS. The above decisions of the Board are subject to all necessary permissions, sanctions and approvals as may be required

• 8 Jan · Results

  5) Resolution No.5, Type of Resolution - Special Resolution, Description - For issue of securities under the Employee Stock Option Scheme to the employees and directors of the holding/subsidiary companies".

• 8 Jan · Results

  Reliance Communications Limited had informed the Exchange regarding the Postal Ballot Notice dated November 28,2006 together with the Postal Ballot Form sent to the Members of the Company for seeking their approval to the transactions listed therein, by Postal Ballot pursuant to Section 192A of the Companies Act, 1956 read with Companies (Passing of Resolution by Postal Ballot) Rules, 2001. The company has now informed the Exchange that: "Sri Anil Lohia, Chartered Accountant appointed as Scrutinizer by the Board of Directors at their meeting held on October 30, 2006 had submitted his report dated 8th January, 2007 on postal ballot forms received from the Members, to the Chairman of the Company. Based on the report submitted by the Scrutinizer, the Chairman had declared the result on 8th January, 2007 of the resolutions passed through Postal Ballot. The following resolutions are carried with requisite majority: 1) Resolution No.1, Type of Resolution - Special Resolution, Description - For alteration of Memorandum of Association by adding Clause VI after the existing Clause V in the Memorandum of Association of the Company. 2) Resolution No.2, Type of Resolution - Special Resolution, Description - Fo alteration of Articles of Association by adding Article 90 after the existing Article 89 in the Articles of Association of the Company. 3) Resolution No.3, Type of Resolution - Ordinary Resolution, Description - For Appointment of M/s. Chaturvedi & Shah, Chartered Accountants and M/s. BSR & Co, Chartered Accountants as the Statutory Auditors of the Company to act jointly with the existing Statutory Auditors M/s. RSM & Co., Chartered Accountants. 4) Resolution No.4, Type of Resolution - Special Resolution, Description - For issue of securities under the Employee Stock Option Scheme.

• 3 Jan · Board meeting

  Inter alia, to consider raising of resources in international market by way of Foreign Currency Convertible Bonds (FCCBs) / External Commercial Borrowing (ECB), etc.