Bilati Orissa - Outcome Of EGM

Bilati (Orissa) Ltd has informed that the shareholders at the Extra-Ordinary General Meeting (EGM) of the Company held on February 28, 2007 have accorded to the Board to issue 4,20,000 Equity Shares of Rs 10 each aggregating to Rs 42,00,000 to Orissa Sponge Iron & Steel Ltd through Preferential Issue, Private Placement or otherwise in one or more tranches with or without voting rights in General Meetings, as may be permitted under the then prevailing laws at such price or prices or in such manner and such terms as the Board may in its absolute discretion thinks fit, subject to necessary provisions and approvals.