Board of Kushal approves starting new division in education segment

At meeting held on 11 April 2018

Kushal announced that the Board of Directors of the Company at its meeting held on 11 April 2018 inter alia, has considered, discussed and approved the following matters :

1. Company has submitted Resolution Plan for Rainbow Papers Limited (in CIRP) which (if approved by Committee of Creditors duly formed under IBC, 2016) shall evolve a sizable outflow for settlement of dues to various stakeholders of RPL, fresh CAPEX, Working Capital requirements. While considering the dividend to be declared, the board took the note of the said probable cash outflows. Hence the Board decided to declare Fourth (4th) Interim Dividend on Equity Shares of the Company for Financial Year 2017-18 at the rate of 1 % (Rs 0.02) per fully paid up Equity Share of Rs 2.00 each.

2. Company shall start a new division in education segment to carry out activities of pre-school chain in the name and style of HUGS 'n' CUDDLES and joyjumperz.

3. Change in landmark being used in the Registered Address of the company, hence future correspondence address shall be :

'KUSHAL HOUSE, PLOT NO. 115, OFF C.G ROAD, NAVRANGPURA, AHMEDABAD-380009'.

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