Global Broadcast - Outcome Of Board Meeting

Global Broadcast News Ltd has informed that the Board of Directors of the Company at its meeting held on April 21, 2007, inter alia, has approved the following:1. Raising capital up to USD 200 million by way of international offerings.2. Increasing the borrowing limits pursuant to Section 293(1)(d) of the Companies Act, 1956 up to Rs 1500 crores.3. Mortgage / hypothecate / create charge on the moveable and immoveable properties of the Company pursuant to Section 293(1)(a) of the Companies Act, 1956 up to Rs 1500 crores.4. Making Inter - Corporate Loans / Investments / Guarantees in other group Companies up to Rs 150 crores.