Board of Kanpur Plastipack approves bonus issue

At meeting held on 29 July 2016

Kanpur Plastipack announced that the Board of Directors of the Company at its meeting held on 29 July 2016, inter alia, has considered and recommended the following:

1. Issue of bonus shares in the ratio of 1:2 i.e. one new fully paid up ordinary share of Rs. 10/- each for every Two fully paid up ordinary share of Rs. 10/- each.

2. Re-classification of and increase in Authorized Share Capital by cancelling 20,00,000 (Twenty Lacs) Unissued Preference shares of Rs. 10/- (Rupees ten Only) each and concurrently converting theses 20,00,000 (Twenty Lacs) preference shares of Rs. 10/- (Rupees ten Only) each into 20,00,000 Equity Shares of Rs. 10/- (Rupees Ten Only) each and by creating additional 20,00,000 (Twenty Lacs) Equity Shares of Rs. 10/- (Rupees Ten Only) each subject to the approval of shareholders at ensuing Annual General Meeting.

3. Also further, the Board has accepted the resignation of P. K. Goenka, Independent Director from the membership of the Board.

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