Outcome of Board Meeting

• Security Code: 532896
• Company: MAGNUM

Magnum Ventures Ltd has informed BSE that the Board of Directors of the Company at its meeting held on February 07, 2013, has:

1. Subject to approval by members, approved alteration of the Capital Clause of the Memorandum of Association of the Company by reclassification of the Authorized Share Capital into 3,90,00,000 (Three Crore Ninety Lakhs) Equity Shares of Rs. 10/- (Rupees Ten) each and 25,00,000 (Twenty Five Lakhs) Redeemable. Non-Convertible, Non-Cumulative Preference Shares of Rs. 100/- (Rupees One Hundred).

2. Subject to approval by members, approved preferential issue and allotment of Non-Convertible, Non-Cumulative and Redeemable Preference Shares upto an amount not exceeding Rs. 25,00,00,000/- (Rupees Twenty Five Crore only) on such terms and conditions as may be decided by the Board of Directors.

3. Approved draft of Postal Ballot Notice and Postal Ballot Form for seeking approval of shareholders for reclassification of unissued Equity Share Capital in to Non-Convertible Non- Cumulative Redeemable Preference Shares and preferential allotment of Preference Shares.

4. Approved the calendar of events for postal ballot.

5. Authorised Shri Abhey Kumar Jain, WTD, Mr. Anant Prakash, Company Secretary and Shri OP Gogia, Head - Corporate Finance, severally as persons overall responsible for postal ballot process.

6. Appointed CS Munish K. Sharma, Practicing Company Secretary as scrutiniser and approve his remuneration.

7. Fixed 8th February as Cut-off date for reckoning voting rights and ascertaining those shareholders to whom the notice and postal ballot form should be sent.