PG Foils Ltd has announced that a meeting of the Board of Directors of the Company will be held on August 31, 2008, to approve the draft notice of 29th Annual General meeting of the Company and to consider and approve the allotment of 20,00,000 warrants to Consolidated Securities Ltd (non-promoter) on preferential basis convertible into one equity shares @ Rs 100/- per warrant which was not considered and approved in the previous Board Meeting.