Outcome of board meeting of Ashapura Intimates Fashion

Held on 25 July 2015

Ashapura Intimates Fashion announced that the Board of Directors of the Company at its meeting held on 25 July 2015 have considered and approved the following :

1. Sonali Gaikwad has been resigned from her post of the Company Secretary and Manisha Pareek has been appointed as Company Secretary and Compliance Officer of the Company with effect from July 25, 2015.

2. The Board of Directors of the Company, has approved the issuance of warrants upto Rs. 16,25,00,000 (Rupees Sixteen Crore Twenty Five Lakhs Only) to Bennett Coleman & Co. and warrants upto Rs. 16,25,00,000 (Rupees Sixteen Crore Twenty Five Lakhs Only) to other investors on preferential allotment basis, entitling the holder of each Warrant to apply for and obtain allotment of equity shares against such Warrants, under the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2009 and other applicable relevant laws at a price not less than as arrived in accordance with the provisions of Chapter VII of SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2009.

The Board has also accorded its consent for seeking approval of shareholders for the aforesaid purpose at the upcoming AGM of the Company.

3. Code for the Insider Trading is taken on records.

4. Sexual Harassment Committee has been constituted and its Code has been formed.

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