Konark Synthetic Ltd has announced that a meeting of the Board of Directors of the Company will be held on October 14, 2006, inter alia, to consider the issue and allotment of 10,06,000 equity shares on preferential basis to promoters and others in accordance with the special resolution passed by the members of the Company u/s 81(1A) of the Companies Act, 1956 at the Annual General Meeting held on September 30, 2006.