Outcome of Board Meeting (Board approves Sub-division of Equity Shares)

• Security Code: 532942
• Company: KNRCON

KNR Constructions Ltd has informed BSE that the Board of Directors of the Company at its meeting held on September 30, 2016, inter alia, the following items of business were, transacted and approved, subject to the approval of members to be sought by way of voting through postal ballot process:

1. Split of Nominal Value of equity shares of Rs. 10/- per share to Rs. 2/- per share

2. Alteration of Capital Clause in Memorandum of Association.

3. Adoption of new set of Articles of Association.

4. Revision of remuneration to Shri K Narasimha Reddy, Managing Director and Shri K Jalandhar Reddy, Executive Director & CFO.

Further, the Board also transacted the following items in connection with the proposed postal ballot process:

1. Appointed Shri K Jalandhar Reddy, Executive Director & CFO to conduct the postal ballot process in a fair and transparent manner.

2. Appointed Scrutinizer to handle the postal ballot process and approved the calendar of events.

Further, the Board considered and deferred the matter pertaining to re-classification of Shri M Rajesh Reddy from Promoter Category to Public Category.