Shri Lakshmi Cotsyn Ltd has announced that the Board of Directors of the Company at its meeting held on July 31, 2007, inter alia, has decided to convert 4 Lacs warrants of Rs 10/- each (issued earlier at a premium of Rs 119/- per warrant) in to 4 Lacs equity shares of Rs 10/- each at a premium of Rs 119/- per share (fully paid-up).