Vikas WSP - Outcome Of Board Meeting

Vikas WSP Ltd has informed that the Board of Directors of the Company at its meeting held on December 14, 2007, inter alia, has decided and concluded the following business:

1. The Board of Directors has approved to issue and to allot 14,50,000 equity shares of face value Rs 1/- each (without any premium) to permanent employees and Independent directors under Vikas Employees Stock Option Plan, 2007.

2. To part finance the planned projects of the Company at Baroda, Bikaner and Sriganganagar (Agro Food Park) the Board of Directors has unanimously approved to issue and allot 2,63,00,000 equity shares of face value Rs 1/- each at an aggregate price of Rs 82.50 per shares (including premium) or at a price as may be determined under SEBI Guidelines (since the Company does not have a trading record of 6 months from the date of revocation of suspension), whichever is higher, on preferential basis to the following proposed allottees:

- Name of proposed allottee : Sh. Megh Raj Jindal

No. of shares : 60,00,000

Category : Promoter

- Name of proposed allottee : Smt. Sharbati Devi

No. of shares : 2,03,00,000

Category : Non-promoter

The aforesaid preferential allotment is partly in suppression of the resolution passed by the Board in its meeting held on October 24, 2007.

3. The Board has decided hold an Extra Ordinary General Meeting of the shareholders on January 21, 2008 to reach above mention objectives.