PSL - Outcome Of EGM

PSL Ltd has informed that the members at the Extra Ordinary General Meeting (EGM) of the Company held on January 17, 2008, inter alia, have accorded the Board to issue, offer and allot with or without an over allotment / green shoe / Option in one or more tranche(s) in the course of domestic / international offering(s), equity shares or securities which are convertible into or exchangeable with equity shares or Preference shares cumulative or non-cumulative which are convertible / into or exchangeable with equity shares (Securities) to the Qualified Institutional Buyers (QIBs) as defined under sub-clause (v) of Clause 2.2.2B of the SEBI (DIP) Guidelines, for an aggregate sum not exceeding USD 125 million (approximately Rupees Five Hundred Crores Only) and / or the Board may issue, offer and allot Foreign Currency Convertible Bonds, Convertible Preference Shares and Convertible Debenture as the Board in its sole discretion may at any time or times, hereafter decide (Including the Issue and allotment of equity shares pursuant to an over allotment / green shoe option, if any), subject to necessary provisions & approvals.