Board of Sunlake Resorts and Hotels approves reduction in equity share capital

At meeting held on 16 January 2015

Sunlake Resorts and Hotels announced that the Board of Directors of the Company at its meeting held on 16 January 2015, inter alia, has transacted and approved the following business:

- have subject to the approval of the Hon'ble High Court of Bombay, shareholders, Stock Exchanges where the shares of the company are listed and other relevant regulatory authorities approved the reduction of Equity Share Capital of the Company from Rs. 8,02,06,000/ - divided into 80,20,600 Equity Shares of Rs. 10/- (Rupees Ten only) each fully paid up to Rs. 80,20,600/- divided into 8,02,060 Equity Shares of Rs. 10/- (Rupees Ten only) each and that such reduction be effected by canceling of 72,18,540 Equity Shares of Rs. 10/- each amounting to Rs. 7,21,85,400/- in the existing paid up Equity Share Capital against debit balance in Profit and Loss account.

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