HBL Power Systems Ltd has informed BSE that the Board of Directors of the Company at its meeting held on June 25, 2008, inter alia, has approved the following:

1. Recommended for the payment of Dividend @ 15% on paid up capital i.e. Rs 1.50 per equity share for the financial year 2007-08.

2. To Issue of Equity Shares on Rights basis in the ratio 1 : 25 (1 no. equity share of Rs 10/- each fully paid-up for every 25 shares held as on record date, to be announced) to the existing shareholders at a price of Rs 150/- per equity share inclusive of Rs 140/- per share as premium. The Rights issue proceeds shall be utilized for Corporate requirements.