Outcome of board meeting of Minda Corporation

Held on 27 May 2016

Minda Corporation announced that the Board of Directors of the Company at its meeting held on 27 May 2016, inter alia, has considered, approved and noted the following matters :

1. The Board has recommended dividend @ Rs. 0.008/- per share on 240000 nos. 0.001% Cumulative Redeemable Preference Shares for the year 2015-16 subject to the approval of the Shareholders of the Company.

2. Recommended a final dividend of Rs. 0.30/- per equity share (face value of Rs. 2/- per share) and Rs.0.008/- per share on 240000 nos. 0.001% Cumulative Redeemable Preference Shares (face value of Rs. 800/- each) subject to the approval of shareholders at the forthcoming Annual General Meeting of the Company. The total dividend declared/ recommended on equity shares of the Company for the year 2015-16 is Rs. 0.50/- per equity share of Rs. 2/- each including interim dividend of Rs. 0.20/- per equity share (face value Rs. 2/- per share) declared by the Board of Directors in their meeting held on 09 February 2016.

3. The Board of Directors has also approved the re-appointment & remuneration of Ashok Minda as Chairman & Group CEO for a period of 3 years w.e.f 01 August 2016.

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