Beardsell Limited — Capital/Financing Update 2020

May 27, 2020

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SEC : MAY : 2020 May 27, 2020

To, Department of Corporate Service (DCS-CRD), BSE Limited Phiroze Jeejeebhoy Towers, Dalal Street, Fort, Mumbai – 400 001. Ref: SCRIP CODE:539447	To, National Stock Exchange of India Limited Exchange Plaza Block G, C 1, Bandra Kurla Complex, G Block, Bandra East, Mumbai 400 051 Ref: SYMBOL:BEARDSELL

Sub. : Outcome of Board Meeting in pursuance of Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended (“LODR Regulations”)

As informed to you vide our letter dated May 19, 2020 pursuant to Regulation 29 of the LODR Regulations, the Board of Directors in their Meeting held today, May 27, 2020 (which commenced at 11.00 a.m. and concluded at 14.15 p.m. ,) inter alia have discussed the following:-

1. Approved the proposal to raise funds upto an aggregate value not exceeding Rs.8.90] crores, subject to receipt of necessary approvals, as applicable, by way of issue of equity shares of the company to its eligible shareholders on a right basis ( 'Rights issue') on a ratio of one share for every three shares held in accordance with applicable provisions of the Companies Act, 2013, as amended, SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018, as amended, and other applicable laws.

2. Constituted a Special Purpose Committee of Directors to decide matters relating to right issue (' Rights Issue Committee ') which includes, inter-alia to decide or alter the treatment to be given to fractional entitlements, to make any applications to the regulatory authorities as may be required, determine the terms and conditions of the Rights issue including total amount of Rights Issue, structure, price, timing of the issue, appointment of lead managers, Registrar and share transfer agents, legal counsel, advisors and other intermediaries. The Committee comprises of Mr Amrith Anumolu, Executive Director, Mr A V Ram Mohan, Independent Director, Dr. Gurram Jagannatha Reddy, Independent Director and Mr V J Singh, Non-Executive Director.

3. The Board took on record the retirement of Mr K Murali, Company Secretary and Compliance officer who retires on 31[st] May 2020.

4. The Board proposed to appoint Ms.T Ananda Jothi as Company Secretary and Compliance Officer and the same will be communicated to the stock exchanges on her joining the duties after the lifting of the lock down due to COVID-19.

We request you to kindly take note of the same.

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