In pursuance of growth opportunities has discussed a proposal for Amalgamation of Shrachi Infrastructure Finance Ltd (Shrachi), Kolkata with the Company. The salient features of the proposal as approved by the Board, subject to all regulatory and statutory approvals are: - Shrachi will be amalgamated into the Company with effect from April 01, 2006. - The shareholders of Shrachi will be allotted Equity Shares of the Company in the ratio of 1 fully paid-up Equity Share of Rs 10/- each of the Company for every 3 fully paid-up Equity Shares of Rs 10/-each of Shrachi. - The promoters and promoter group Companies of Shrachi will be entitled to a non-compete fee as consideration for not competing with the business of the merged entity for a period of 6 years, which fee is to be discharged by an additional allotment of 329,000 Equity Shares of the Company. - A Committee of the Board of Directors of the Company has been set up to finalise the Scheme of Amalgamation in conformity with the above terms or any appropriate modifications that may be required subject to various legal and regulatory requirements and in consultation with the promoters of Shrachi. - Mr S K Todi and Mr Ravi Todi, presently Chairman and Managing Director respectively of Shrachi will join the Board of the Company. - The proposed amalgamation will result in the merged entity having an asset base of over Rs 46,000 million, a customer base of 150,000, a network of 146 branches across India with strong penetration in rural and semi-urban areas, consequently enabling increased business from financing assets and offering fee based products. (As per BSE Bulletin dated on 25/08/2006) Magma Leasing Ltd has informed BSE that the equity shareholders of the Company at their meeting held on December 29, 2006 have considered the matter of approval of the Scheme of Amalgamation of Shrachi Infrastructure Finance Ltd with the Company, being Annexure - E in Company Application No 622 of 2006. The Shareholders have voted on the resolution through a poll. The Results of the poll will be announced subsequently. (As Per BSE Announcement dated on 02/01/2007) Magma Leasing Ltd has informed BSE that the Equity Shareholders of the Company at their court convened meeting held on December 29, 2006, have unanimously approved the Scheme of Amalgamation of Shrachi Infrastructure Finance Ltd with the Company. (As per BSE Announcement website dated on 16/01/2007) Shrachi Securities Ltd has informed BSE that the Hon'ble High Court at Calcutta has approved the Scheme of Amalgamation between the Company and Magma Leasing Ltd. (As Per BSE Announcement Website Dated on 12/02/2007) Magma Leasing Ltd has informed BSE that the Hon'ble High Court at Calcutta has vide its order dated February 12, 2007 has approved the Scheme of Amalgamation between the Company and Shrachi Infrastructure Finance Ltd. (As Per BSE Announcement Website Dated on 14/02/2007) SUB. :- Scheme of Amalgamation of Shrachi Securities Ltd. (Scrip Code 511591) Trading members of the Exchange are hereby informed that, Magma Leasing Ltd. has fixed the Book Closure for Shrachi Securities Ltd. for the purpose of amalgamation of Shrachi Securities Ltd. with Magma Leasing Ltd. Trading members are advised not to deal in the equity shares of Shrachi Securities Ltd. with effect from the under mentioned date. COMPANY NAME CODE Shrachi Securities Ltd. 511591 BOOK CLOSURE 30/04/2007 to 04/05/2007 NO DEALINGS FROM 23/04/2007 DR-017/2007-2008 PURPOSE The Scheme of Amalgamation of Shrachi Securities Ltd. with Magma Leasing Ltd.: - Magma Leasing Ltd. shall issue and allot to the shareholders of Shrachi Securities Ltd. equity shares in the ratio of ONE equity share of Rs.10/- each credited as fully paid up of Magma Leasing Ltd. for every THREE Equity Shares of Rs.10/- each fully paid up held in Shrachi Securities Ltd. Trading Members of the Exchange are requested to take note of it. (As per BSE Notice dated on 17/04/2007) Magma Leasing Limited has submitted to the Exchange, pursuant to the meeting of the Board of Directors of the Company on the April 12, 2007, a copy of the Public Notice issued by the Company calling on the Equity shareholders holding share certificates of Shrachi Infrastructure Finance Limited to surrender the same so as to receive equity shares of the Company as per the approved swap ratio in the Scheme of Amalgamation between Shrachi Infrastructure Finance Limited and Magma Leasing Limited, by the Hon'ble High Court at Calcutta published in the news paper. (As per NSE Bulletin dated on 23/04/2007) Magma Leasing Limited has informed the Exchange that the Board of Directors of the Company at their meeting held on 8th May, 2007, have resolved on the following issues : (1) Mr. V. Lakshmi Narasimhan has ceased to be the Company Secretary of the Company and Compliance Officer for Stock Exchange purposes with effect from the close of business hours on 10th May, 2007. (2) Mr. Girish Bhatia has been appointed as the Company Secretary of the Company and Compliance Officer for Stock Exchange purposes with effect from 11th May, 2007." (As Per NSE Bulletin Dated on 10/05/2007) Trading members of the Exchange are hereby informed that the under mentioned new securities of Magma Leasing Limited (Scrip Code: 524000, ISIN No: INE511C01014) are listed and permitted for trading on the Exchange with effect from Thursday, June 28, 2007. Securities 32,33,076* Equity Shares of Rs.10/- each issued to shareholders of erstwhile Shrachi Securities Limited (now known as: Shrachi Infrastructure Finance Ltd.) pursuant to the Scheme of Amalgamation of the Company. Dist. Nos. 16929165 to 20162840 * These shares are ranking pari-passu with the old equity shares of the company. 2. Trading members may please note that 16,72,914 Equity shares issued pursuant to the scheme of amalgamation, are under lock-in as per details given below and therefore these shares would not be good delivery in the market till then. The company has confirmed that these shares are issued in demat form for which necessary corporate action has been executed to have lock-in period marked in the depository's record. No. of Shares Details of Dist. Nos. Date upto which lock in 12,92,068 17106875-18398942 08/05/2010 51,846 19781995-19833840 08/05/2010 3,29,000 19833841-20162840 08/05/2010 16,72,914 TOTAL 3. The brief particulars of the Scheme of Amalgamation are as mentioned below: a) The Scheme of Amalgamation of the company was approved by the Hon'ble High Courts of Calcutta vide the order dated March 29, 2007. b) Appointed Date: April 04, 2006. c) Effective Date: March 30, 2007. d) Date of Allotment: May 08, 2007. e) Exchange Ratio - For every 3 fully paid up equity shares of Rs.10/- each held in erstwhile M/s. Shrachi Finance Limited (now known as: Shrachi Infrastructure Finance Ltd.), 1 fully paid up equity shares of Rs.10 /- each of the company have been issued. 4. As per Exchange Notice No. 20070417-28 dated April 17, 2007, the transferor company viz. Shrachi Securities Limited has fixed "Book Closure" from April 30 to May 04, 2007 for giving effect to the Scheme and accordingly, trading in the shares of the said transferor company was stopped with effect from April 23, 2007. 5. The company's financial year ends on 31st March. In continuation of the ExchangeÆs Notice No. 20070627-08 dated the June 27, 2007, trading members of the Exchange are hereby informed that they should read the distinctive nos. in respect of 32,33,076 equity shares issued pursuant to the amalgamation of the company as 16929765 to 20162840 with appointed date as April 01, 2006 and not as mentioned in the aforesaid notice. (As per BSE Notice dated on 27/06/2007) Magma Shrachi Finance Ltd has informed BSE that the Company will pay a 20% dividend to its shareholders for the year 2006-2007. This was approved on September 04, 2007 at the Company's 27 Annual General Meeting (AGM). Mr. Sanjay Chamria, Vice Chairman & MD of the Company, said that the AGM marked a rewarding period for the Company following the amalgamation of Shrachi Infrastructure Finance Ltd with Magma Leasing Ltd. "I am grateful for the unstinting support and patience of our shareholders, bankers, alliance partners and other stakeholders in contributing to the strong performance recorded for the year. I am confident that Magma Shrachi will continue to provide the services and products that our customers have come to expect", he added. (As Per BSE Announcement Website Dated on 05/09/2007)