Bajaj Hindusthan Sugar - Outcome of Board Meeting

Bajaj Hindusthan Sugar & Industries Ltd has informed that the Board of Directors of the Company at its meeting held on June 16, 2007, has approved the following:1. Consequent to receipt of the subscription amount of USD 15 Million (equivalent to Rs 61.25 crore) allotment of Foreign Currency Convertible Bonds (FCCBs) Due 2014 to International Finance Corporation, convertible at the option of the bondholder(s) at a conversion price of Rs 50 per equity share of the face value of Re 1/- each.2. Seeking approvals from shareholders by way passing of resolution by postal ballot, inter alia for the following business:a) Alteration of Articles of Association of the Company.b) Fresh enabling approval under section 81(1A) to enable Board of Directors for raising of the balance sum upto Rs 1425 crores in form of issue of further shares in domestic / international markets by way of private placement / public issue / issue of GDRs / ADRs / FCCBs, etc. or a combination thereof subject to compliance with the requisite SEBI guidelines and other legal / statutory requirements, in place of an earlier approval for raising up to Rs 1500 crore obtained at the Extraordinary General Meeting of the Company held on December 29, 2006.c) Consent for exercise of power by the Board for enhanced borrowing limits and consequent power to charge assets / properties of the Company in favour of lenders as security against the secured loans to be availed by the Company.