Outcome of board meeting of Shilp Gravures

Held on 17 March 2016

Shilp Gravures announced that the Board of Directors of the Company at its meeting held on 17 March 2016, the following items have been approved and taken on record:

- The Board of Directors has approved the proposal of divestment and dissociation from the Company - HMSU Rollers (India) and ReShilp Equipments (India). With regard to this dissociation, the J. V. Agreement with the aforesaid companies / J. V. partners shall stand terminated in the due course on the completion of the divestment formalities.

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