PSL LTD. - Outcome of Board Meeting

PSL Ltd has informed BSE that the Board of Directors of the Company at its meeting held on May 24, 2016, has approved the allotment of 25999232 equity shares to Seven (7) Promoter Group Entities and One (1) Lender of the Company pursuant to the terms and conditions prescribed for restructuring of Company's debt through CDR mechanism approved by the CDR Empowered Group on September 23, 2013.