Outcome of board meeting of Jarigold Textiles

Held on 16 May 2015

Jarigold Textiles announced that the Board of Directors of the Company at its meeting held on 16 May 2015, has :

1. The Company has appointed Manoj Jain as Independent director with effect from 16 May 2015.

2. The Company has appointed Rashmi Aahuja as Independent women director with effect from 16 May 2015.

3. The Company has appointed Daxesh Kapadia as Chief Financial Officer (C.F.O) of the Company with effect from 16 May 2015.

4. The Company has approved the notice of the postal ballot for the purpose of passing the following resolutions

1) To shift the Registered Office of the Company from Surat, State of Gujarat to Ahmedabad, State of Gujarat.
2) To increase in the limit to make loans or investments, give guarantee or provide security.
3) To increase Borrowing Powers of the Board.
4) To create Charge on the assets of the Company.
5) To alter Object Clause of Memorandum of Association of the Company.
6) Adoption of new set of Articles of Association.
7) Power to Appoint Director as Chairman as well as Managing Director or Chief Executive Officer at the same time.
8) Delisting of Equity Shares from the Ahmedabad Stock Exchange.

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