Outcome of Board Meeting

• Security Code: 500067
• Company: BLUESTARCO

Blue Star Ltd has informed BSE that the Board of Directors of the Company at its meeting held on September 29, 2015
based on the recommendations of the Audit Committee and deliberations at the Board meeting, the Board considered and approved, subject to the necessary approvals being received, the amalgamation of Blue Star Infotech Limited (BSIL) with the Company and thereafter amalgamation of Blue Star Infotech Business Intelligence & Analytics Private Limited (BSIAPL) with the combined Blue Star Limited ("Proposed Amalgamation") on the terms and conditions as stated in the draft scheme ("Composite Scheme") placed before the Board.

BSIL and BSIAPL are engaged in the business of providing information technology, software development and consulting services and BSIAPL is a wholly owned subsidiary of BSIL.

Salient features of the Proposed Amalgamation are as follows:

1. Appointed Date: The appointed date for the Proposed Amalgamation is April 01, 2015.

2. Share Exchange Ratio: The Scheme contemplates:

2.1. A share exchange ratio of 7 (Seven) equity shares of Rs. 2 (Rupees Two) each of the Company for every 10 (Ten) equity shares of Rs. 10 (Rupees Ten) each held in BSIL. The equity shares held by the Company in BSIL shall be deemed to be cancelled without any further act or deed, and no shares of Company are required to be issued in lieu thereof.

2.2. Upon the Scheme coming into effect, 100% of the equity share capital of BSIAPL, beneficially held by the Company and its nominee shall be deemed to be cancelled without any further act or deed, and no shares of Company are required to be issued in lieu thereof.