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| Exchange Disseminated Time | Global Offshore Services Ltd has informed BSE that the Board of Directors of the Company at its meeting held on July 08, 2011, inter alia, has discussed and approved the following;
1. Board to issue, offer and allot for following securities on a preferential allotment basis, subject to the approval of members:
a. A maximum of 4,40,000 equity shares of Rs. 10/- each to Corporations Acting in Concert with the Promoters at a price of Rs. 121/- per share (face value of Rs. 10/- each and premium of Rs. 111/- per share);
b. A maximum of 4,69,700 Warrants to the Promoters / Promoter Companies and Key Management Persons, entitling the Warrant holder to exercise an option to subscribe to 4,69,700 equity shares of the Company of Rs. 10/- each, which shares shall be equal to the number of Warrants that may be allotted to them for cash at a price of Rs. 121/- per Share (face value of Rs. 10/- each and premium of Rs. 111/- per share) and the allotted equity shares shall rank pari passu with the existing equity shares of the Company.
2. To convene an Extra Ordinary General Meeting on dated August 08, 2011 for the above purpose.
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