Outcome of board meeting of OTCO International

Held on 28 October 2015

OTCO International announced that the Board of Directors of the Company at its meeting held on 28 October 2015, inter alia, adopted/ approved the following items :

1. The resignation of Shaine Sunny Mundaplakkal as Independent Director of the company.

2. Shaine Sunny Mundaplakkal was appointed as whole time director of the company.

3. The resignation of Collin Richard Timms as a Director of the company was accepted.

4. Approval was given for shifting the registered office of the company within local limits of the city.

5. Transfer of shares to the Acquirer Pradeep Kumar Panda pursuant to post completion of open offer was approved.

6. Draft notice for an extra ordinary general meeting of the company for considering :

(i) reclassification of promoters to comply with Regulations 31(A) of Securities and Exchange Board of India (Listing Obligations and Disclosure requirements) Regulations ,2015

(ii) amendment of memorandum of Association; and

(iii) Amendment of Articles of Association of the company, was approved along with date for holding of the same.

7. M/s. Rajesh Agrawal & Associates was appointed as scrutiniser for conducting the voting process in a fair and transparent manner.

Other items were deferred to the next meeting.

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