Board of Hubtown does not recommend dividend

At meeting held on 22 June 2016

Hubtown announced that the Board of Directors of the Company at its meeting held on 22 June 2016, has taken the following decisions :

1. As a prudent economic measure and in order to conserve the scarce liquid resources of the Company, the Board has not recommended any dividend on the equity shares for the year ended 31 March 2016;

2. Recommended for ratification by the shareholders in the ensuing Annual General meeting, the reappointment of M/s. Dalal Doshi & Associates, Chartered Accountants, as Statutory Auditors of the Company for the year ending 31 March 2017;

3. ReappointedHemant M. Shah as Whole time Director designated Executive Chairman and Vyomesh M. Shah as Managing Director of the Company for a period five years with effect from 01 January 2017 to 31 December 2021, subject to the approval of the shareholders in the ensuing Annual General Meeting.

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