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Reliance Energy - Updates Reliance Energy Ltd has issued the following Media Release on declaration of results of Resolutions passed through Postal Ballot: "Reliance Energy Ltd on April 17, 2008 announced that the shareholders of the Company have by a overwhelming majority approved through postal ballot, inter alia, the following proposals: - To waive the Company's entitlement to receive Bonus Shares proposed by Reliance Power - To accept gift of 2.57% shares of Reliance Power from Shri. Anil D Ambani - To change the name of Reliance Energy to Reliance Infrastructure Ltd - Buy-back of Shares of up to 25% of the paid capital and free reserves aggregating up to Rs 2,000 crore. Earlier, in an unprecedented step, to protect the Company from suffering any dilution of its holding in Reliance Power consequent upon the Company waiving its right to Bonus Shares, AAA Project Ventures Pvt Ltd, an entity fully controlled by Shri. Anil D Ambani and also Promoter of the Group, has undertaken voluntarily without any obligations to do so and without any specific consideration to contribute as and by way of gift, 2.57% of its Post Bonus Issue shareholding comprising 6,15,00,000 shares in Reliance Power to the Company. The shareholders of Reliance Energy have also overwhelmingly approved the proposal to accept the aforesaid gift of shares by AAA Project Ventures Pvt Ltd. The shareholders have also overwhelmingly approved to change the name of Reliance Energy to Reliance Infrastructure Ltd apart from the Company's proposal to buy back 25% of the paid-up equity share capital and Free Reserves (including Securities Premium) of the Company aggregating upto Rs 2000.14 crore. Meanwhile, with the approval of the Board of the Company, Reliance Energy has already commenced buy-back of shares up to an amount not exceeding 10% of the paid up equity share capital and free reserves (including Securities Premium) of the Company, aggregating Rs 800.06 crore. Pursuant to the approval, the company has so far bought-back 20,38,551 equity shares aggregating Rs 250.75 crore."