Bedmutha Industries Limited — Capital/Financing Update 2018

Nov 2, 2018

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Date: 02/11/2018

To Department of Corporate Services, BSE Limited Phiroj Jeejibhoy Towers, Dalal Street, Mumbai – 400 001

To

Listing Department, National Stock Exchange of India Limited C-1, G-Block, Bandra-Kurla Complex Bandra, (E), Mumbai – 400 0051

Dear Sir/ Madam,

Sub: Outcome of the Board Meeting pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015

Scrip Code: 533270, Scrip Symbol: BEDMUTHA

With reference to the captioned subject, please be informed that the Board of Directors of the Company at its meeting held today i.e., Friday, November 02, 2018 at the Registered Office of the Company inter alia, considered and approved the following:

1. The Unaudited Financial Results (Standalone) along with the Limited Review Report issued by the Statutory Auditors of the Company for the quarter and half year ended September 30, 2018;

Further, the Board inter alia considered and approved in-principle the following:

1. Issue of Convertible Warrants (“Warrants”) on a preferential allotment basis in accordance with the SEBI (ICDR) Regulations, 2009 to promoters and / or others, subject to approval of shareholders and applicable laws;

2. Employee Stock Option Plan (ESOP) subject to approval of shareholders and applicable laws;

3. Continuation of Directorship of Shri Vasant Joshi as an Independent Non-Executive Director who has attained the age of 79 years under Regulation 17 of the SEBI (LODR) (Amendment) Regulations, 2018 subject to approval of shareholders and applicable laws; and

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1. In terms of proposed restructuring plan under consideration by the Consortium Bankers, the Board of Directors have approved, subject to approval of shareholders of the Company and the statutory authorities for:

a. Raising of Funds through Preferential Issue / Rights Issue or issue of compulsory convertible debentures at an issue price to be arrived as per SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2009;

b.Issue of Cumulative Redeemable Preference Shares (CRPS) with premium for conversion of term loan partially into CRPS;

• c. Increase of Authorised Share Capital of the Company, as may be required; and

d.Enabling resolution for conversion of the restructured loan, in the event of default, into Equity Shares of the Company, as may be approved, directed, implemented as per the proposed restructured plan as mentioned above.

For the above purposes, the Board of Directors has constituted the Fund Raising Committee to implement the restructuring plan and to comply with the requirements of the applicable laws.

The Board Meeting commenced at 11.30 A.M. and concluded at 7.55 P.M.

The Financial Result will be made available at the Company’s Website: www.bedmutha.com

Thanking You,

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Encl:

1. Unaudited Financial Results (Standalone) along with the Limited Review Report issued by the Statutory Auditors of the Company for the quarter and half year ended September 30, 2018.

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