Outcome of board meeting of Mercator

Held on 07 November 2014

Mercator announced that the Board of Directors of the Company at its meeting held on 07 November 2014, inter alia, has approved the following:

1. Appointment of Shalabh Mittal as an additional Director and Joint Managing Director on the Board of Company. Appointment of Shalabh Mittal would be as Promoter/ Executive / Non Independent Director and would be subject to necessary approvals.

2. To conduct Postal Ballot in accordance with the provisions of Section 110 of the Companies Act, 2013, and Clause 22 of the Companies (Management and Administration) Rules, 2014 for obtaining the shareholders' approval.

For conducting the Postal Ballot process in independent and transparent manner, the Board has approved appointment of Haresh Jani, Practicing Company Secretary, as Scrutinizer; providing e-voting facility to the members, as an alternative to physical voting through postal ballot and other related matters.

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