Akash Infra-Projects Limited — Capital/Financing Update 2019

Jan 31, 2019

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Date: 31[st] January, 2019

To,

National Stock Exchange of India Limited (SME Emerge) Exchange Plaza, BandraKurla Complex, Bandra (East), Mumbai – 400 051

SYMBOL: AKASH

Dear Sir,

SUB.: OUTCOME OF BOARD MEETING HELD ON 31[ST] JANUARY, 2019.

With reference to the above, we would like to inform that the Board of Directors of the Company at its meeting held today (i.e. on 31[st] January, 2019) inter-alia have considered and approved the following:

1. To increase Authorised Share Capital of the Company, from existing Rs. 16 Crore to Rs. 17 Crore subject to the approvalof members.

2. To issue Bonus Shares in the proportion of 1(one) Bonus Equity Shares of Rs 10/- each, for every 1 (one) existing fully paid up Equity Shares of Rs. 10/-each subject to the approval of members of the Company.

3. In terms of Regulation 42 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 the Board of Directors of the Company has fixed 8[th] March, 2019 as the Record date for the purpose of determining the members who shall be entitled for the Bonus shares as stated above.

4. Notice of Extra Ordinary General Meeting proposed to be convened on Thursday, 28[th] February, 2019 at 4.00 p.m. at Pathikashram Hotel’ Near S.T. Depo, GH-3 Circle, GH Road, Sector-11, Gandhinagar – 382011 for availing approval for the above stated proposals.

Further, the details as required under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 is annexed herewith as ANNEXURE A .

The Board Meeting commenced at 4.00 p.m. and concluded at 4.45 p.m.

Kindly take the same on your records.

FOR, AKASH INFRA-PROJECTS LIMITED

Digitally signed by PATEL UPASNA PATEL UPASNA ANKITKUMAR DN: cn=PATEL UPASNA ANKITKUMAR, c=IN, st=GUJARAT, o=Personal, ANKITKUMAR serialNumber=487f37aa9b37f1d32fec0dd053b0 b0127501e29605efb3f606407fc7ad576e27 Date: 2019.01.31 16:50:08 +05'30'

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UPASNA PATEL

COMPLIANCE OFFICER & COMPANY SECRETARY

Encl: As above

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ANNEXURE A

Disclosure as required under Regulation 30 of SEBI LODR.

Whether bonus is out of free reservescreated out of profits or share premiumaccount;	The Bonus Shares will be issued out of SecuritiesPremium Account and retained earnings of theCompanyas at 31st March,2018.	The Bonus Shares will be issued out of SecuritiesPremium Account and retained earnings of theCompanyas at 31st March,2018.
Bonus ratio	1:1, i.e. One Bonus Equity Share of Rs. 10/- each fullypaid up for every One Existing Equity Shares of Rs.10/- each fully paid upheld as on record date.
Details of Share Capital: Pre and Postbonus issue	Pre-Issue paid up capital	Post -Issue paid upCapital
	Rs. 8,43,12,670/- dividedi8431267Ei	Rs.16,86,25,340/-diiddi16862534
	nto,,qutyShares of Rs. 10/-each.	ve nto ,,,Equity Shares of Rs. 10/-each.
Free reserves and/ or share premiumrequired for implementing the bonusissue	Rs.8,43,12,670/-.
Free reserves and / or share premiumavailableforcapitalizationandthedateasonwhichsuchbalanceisavailable;	As on 31st March,2018:
	General Reserves	Rs 5,14,00,000/-
	Share Premium	Rs.20,32,21,330/-
	Retained Earnings(Balance in P&L Account)	Rs.35,28,53,694/-
	TOTAL	Rs. 60,74,75,024/-
Whethertheaforesaidfiguresareaudited	Yes
Estimated date by which such bonusshares would be credited/dispatched	Within 2 months from the date of Board Meeting i.e.on or before 30th March,2019