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 November 12, 2014, have taken the following decisions:<br/><br/>1. Decided, in principle, to install 2.1 MW Wind Power Plant for captive use at project cost of about Rs. 1,400 Lacs and invest about Rs. 1,680 Lacs in a joint venture to be formed in USA for acquiring a CNC Machine Shop. These will be financed from permissible bank loans and internal accruals.<br/><br/>2. Appointment of Mr. Rajeev Dixit as Chief Financial Officer of the Company.