Outcome fo board meeting of Mercury Metals

Held on 11 January 2016

Mercury Metals announced that the Board of Directors of the Company at its meeting held on 11 January 2016 and in that meeting the Board has decided following matters:

1. Pursuant to clause 5.2 of the Scheme of Arrangement in the nature of Reconstruction of Capital of Mercury Metals, the Board approved to issue 1 (one) Equity Share of Re. 1/- (Rupess One Only) each fully paid up against every 1 (one) Equity Shares of Rs.10/- (Rupees Ten Only) each fully paid to the Shareholders whose name appears on the register of members as on the record date i.e. 24 November 2015, Further the Board authorised Govindram L. Kabra, whole time director of the Company to issue physical share certificates to all those shareholders who were holding shares in physical mode as on the record date and further authorised to do all the formalities with the RTA of the Company to generate corporate action at CDSL and NSDL to effect reduction of capital in the holding of shareholders holding shares in demateralised form. The Board noted the fact that such issue of shares to effect capital reduction will not result into issuance of any fractional shares as provided in Clause 6 of the Scheme.

2. To Execute a fresh Listing Agreement with Stock Exchange in pursuant to Notification of SEBI (Listing Obligation and Disclosure Requirement) Regulation, 2015 (Listing Regulations) issued on 02 September 2015.

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