Ester Industries Ltd. — Board/Management Information 2021

Feb 25, 2021

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Date: 25[th] February, 2021

BSE Limited National Stock Exchange of India Limited Department of Corporate services Exchange Plaza, Phirojee Jeejeebhoy Towers Plot no. C/1, G Block, Dalal Street, Mumbai – 400023 Bandra‐Kurla Complex, Symbol : 500136 Bandra (E), Mumbai – 400051 Symbol : ESTER

Dear Sir

Subject : Outcome of the Board Meeting

We wish to intimate you that a meeting of the Board of Directors of the Company was held on Thursday, 25[th] February, 2021. The meeting was commenced at 04:13 PM and concluded at 04:28 PM. During the meeting, the Board, amongst other items of Agenda, approved the following matters –

1. Employee Stock Option Scheme of the Company named as “ ESTER Employee Stock Option Plan 2021” , subject to the approval of the shareholders of the Company

2. Convening Extra‐ordinary General Meeting ("EGM") of the Company on Friday, 26[th] March, 2021 at 11.00 am through video conferencing/ other audio visual means for obtaining Shareholders approval for the items stated in the EGM Notice as approved by the Board of Directors.

3. Cut‐off Date” for the purpose of determining the members eligible to vote on the resolutions set out in the Notice of the EGM or to attend the EGM has been fixed on Friday, 19[th] March, 2021.

4. Capex Budget of Rs. 40,00,00,000/‐ (Rupees Forty Crore only) for relocating Engineering Plastics (EP) Business to western state.

5. Giving Corporate Guarantee to Oldenburgische Landesbank Aktiengesellschaft (OLB Bank) up to the maximum amount of EUR 30,278,750 for extending External Commercial Borrowing facility to Ester Filmtech Limited, a wholly owned Subsidiary of the Company. Brief details in compliance with SEBI Circular Ref No. CIR/CFD/CMD/4/2015 dated 9[th] September, 2015 is given in Annexure ‐1 .

Please take the above on your record.

Thanking You

Yours Faithfully For Ester Industries Limited

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Diwaker Dinesh Head‐Legal & Company Secretary

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Annexure – I

Annexure	– I
S. NO.	Particulars	Details
1	Name of party for which suchguarantees or indemnity or suretywas given:	Ester Filmtech Limited (wholly owned subsidiary ofEster Industries Limited)
2	Whether the promoter/ promotergroup/ group companies have anyinterest in this transaction? If yes,nature of interest and detailsthereof and whether the same isdone at “arms length”;	Mr. Arvind Singhania and Mr. Ayush VardhanSinghania, Promoter / Promoter Group of EsterIndustries Limited are Directors of Ester FilmtechLimited. The terms of the Guarantee are as per theConditions laid down by OLB Bank and are at armslength.
3	Brief details of such guarantee orindemnity or becoming a surety viz.Brief details of agreement entered(if any) including significant termsand conditions, including amount ofguarantee;	Ester Industries Limited is providing CorporateGuaranteetoOldenburgischeLandesbankAktiengesellschaft (OLB Bank) up to the maximumamount of EUR 30,278,750 for extending ExternalCommercial Borrowing facility to Ester FilmtechLimited, a wholly owned Subsidiary of the Company.The guarantee, once executed, will be validthroughout the tenure of the facility.
4	Impact of such guarantees orindemnityor suretyon listed entity	No financial / operational impact is foreseen at thetime when theguarantee will be executed.

For Ester Industries Limited

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Diwaker Dinesh Head‐Legal & Company Secretary

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