Outcome of board meeting of Manvijay Development Company

Held on 29 May 2015

Manvijay Development Company announced that the Board of Directors of the Company at its meeting held on 29 May 2015, inter alia, has approved the following, subject to the approval of Members of the Company in a General Meeting & other regulatory approval:

1. Prabhakar Shankar Patil (Director) is appointed as a Compliance officer of the Company.

2. Issue of 32,40,000 Equity share of Rs. 10/- each as fully paid up Bonus shares to the Shareholders of the Company in the ratio of 1:1 (i.e. in the proportion of 1(One) new equity shares of Rs. 10/- each for every 1(One) existing fully paid up equity share of Rs. 10/- each held as on the record date).

3. Increase in Authorized Capital of the Company.

4. Alteration of Memorandum of Association.

5. Alteration of Articles of Association.

6. To hold EGM in due course for the abovementioned matters.

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