Outcome of board meeting of Titagarh Wagons

Held on 12 August 2015

Titagarh Wagons announced that the Board of Directors of the Company at its meeting held on 12 August 2015, inter alia, has:

1. Approved in-principle, merger of some of the subsidiaries including, Titagarh Marine (TML) with the Company subject to necessary compliances in this regard and authorised the Merger & Acquisition Committee to get a detailed Scheme and other data prepared on the subject for further consideration of the matter; and

2. Recommended dividend at the rate of 40% on the Equity Shares of Rs. 2/- each fully paid up subject to declaration by the shareholders at the ensuing Annual General Meeting.

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