The Board of Directors of Deep Polymers Limited have considered and approved the takeover of Deep Plast Industries at a value of around Rs. 45 crores to 55 crores as per the Valuation to be done by the Certified Valuer. The said amount will be appropriated as below:

- Issue of fully paid up 2,00,000 equity shares @ Rs. 129 totalling to 2,58,00,000/- (including Rs. 119/- as premium) to partners of Deep Plast Industries Mr. Ramesh Patel: 1,00,000 and Mrs Ashaben Patel: 1,00,000.

The Board also considered and approved raising of funds by way of issue of Equity warrants convertible in equity shares having paid up value of Rs.10/- each, as per SEBI (ICDR) Regulations at a issue price of Rs. 129/- each (including Rs. 119/- as premium).

The board also approved raising of funds upto Rs. 150 crores by way of issue of new Equity Shares by way of Preferential allotment to Promoters as well as non-promoters and QIP to Institutional Investors, in one or more tranches.