Prakash Industries

Prakash Industries Ltd has informed that the members at the 26th Annual General Meeting (AGM) of the Company held on September 05, 2007, inter alia, have authorised the Board of Directors of the Company to offer, issue and allot in one or more tranches and upon such terms and conditions and in such manner as may be deemed appropriate by the Board, not more than 12135990 Warrants at a price of Rs 68 per warrant with an option to subscribe to one Equity Share of Rs 10 each per warrant (i.e. at a premium of Rs 58 per share) to Barclays Capital Mauritius Ltd or its nominee(s) by way of preferential allotment.