Outcome of board meeting of Lyka Labs

Held on 24 December 2014

Lyka Labs announced that the Board of Directors of the Company at its meeting held on 24 December 2014, inter alia, has decided :

1. To offer and issue subject to the approval of shareholders by way of Special Resolution 230000 Warrants on Preferential basis each to Enai Trading & Investment and N.I. Gandhi - HUF, of Promoter Group aggregating 460000 Warrants with an option of conversion into Equity Shares within a period of 18 months from the date of allotment of Warrants.

2. To offer and issue further 520000 Warrants on Preferential basis each to Enai Trading & Investment and N.I. Gandhi - HUF, of Promoter Group aggregating 1040000 Warrants with an option of conversion into Equity Shares within a period of 18 months from the date of allotment of Warrants, subject to the approval of shareholders by way of Special Resolution and exemption from SEBI from making an Open Offer under SEBI (Substantial Acquisition of Shares and Takeover) Regulations, 2011.

3. That the issue price of the Warrants shall be decided in accordance with Chapter VII of SEBI (Issue of Capital and Disclosure Requirements) Regulations 2009 with Relevant Date being 30 days prior to the Shareholders meeting.

4. To hold an Extra Ordinary General Meeting of the members of the Company on 23 January 2015 for approval of the above mentioned issue of warrants on preferential basis to Promoters / Promoter Group.

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