Outcome of board meeting of WEP Solutions

Held on 27 October 2014

WEP Solutions announced that a meeting of Board of Directors of the Company was held on 27 October2014, inter alia, to approve the following:

1. Amendment in Articles of Association :

- The Board approved the amendment in the draft of Articles of Association of the Company pursuant to the provisions of Section 5, Schedule I, and all other applicable provisions of the Companies Act, 2013, subject to approval by Shareholders through Postal Ballot.

2. Resignation of Managing Director :

- P K Gopalakrishnan, Managing Director, has expressed his desire to move out of the company due to personal reasons and is expected to be relieved from the position as per the terms of his contract and upon completion of current business engagements and responsibilities. The Board of Directors expressed their appreciation for the services of P K Gopalakrishnan and accepted his request.

3. Appointment of Key Managerial Personnel :

(a) The Board of Directors announced that Ram N Agarwal, Promoter and Chairman, will be assuming the Executive responsibilities on completion of necessary statutory compliances.

(b) The Board of Directors approved the appointment of Sujata Lele as Company Secretary in accordance with the provisions of the Companies Act, 2013.

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