Outcome of board meeting of CMI

Held on 19 March 2016

CMI announced that the Board of Directors of the Company at its meeting held on 19 March 2016, has transacted the following;

1. Has decided, subject to approval of shareholders through Postal ballot/Extra Ordinary General Meeting, to Issue

- Upto maximum of 15,00,000 Equity Shares having face value of Rs. 10/- each, on to Non promoters, on preferential basis;

- Upto maximum of 10,00,000 Equity Shares having face value of Rs. 10/- each, to promoter, on preferential basis; and

- Upto maximum of 10,00,000 Warrants convertible into equal number of equity share having face value of Rs. 10 /- each to the promoters.

The relevant date on Which price is to be calculated shall be determined in accordance with Chapter VII of the SEBI (ICDR) Regulations.

2. has allotted 7,00,000 Equity Shares consequent upon conversion of 7,00,000 Warrants.

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