PRADEEP METALS LTD. - Outcome of Board Meeting

Pradeep Metals Ltd has informed BSE that the Board of Directors of the Company at its meeting held on September 26, 2014, have taken the following decisions :<br/><br/>1. Board advised the Management to review the installation of Wind Power plant for captive use.<br/><br/>2. Board authorised Chairman and Managing Director to negotiate with the promoters of a running unit in USA, keeping in view the guidance laid down by Board, and to sign Letter of Intent, subject to necessary approval of the Board, RBI, Company's Bankers and other authorities.<br/><br/>3. Board decided that the Company should approach its Bankers for renewal / review of the working capital facility and Term Loans at existing level.