UCO Bank: Outcome of Board Meeting

UCO Bank has informed BSE that the Board of Directors of the Bank, at its meeting held on February 19, 2011, approved preferential allotment of Equity shares of Rs. 10/- each to Govt. of India against the proposed capital infusion of Rs. 940 crore at an issue price as may be determined in accordance with Regulations 76(1) of SEBI ICDR Regulations, subject to the approval of shareholders of the Bank.

The Bank has further informed that Extraordinary General Meeting of the shareholders will be held on March 17, 2011, to consider above proposal for issue of Equity shares to the Govt. of India on preferential basis.