Outcome of Board Meeting

• Security Code: 533047
• Company: IMFA

Further to our letter dated 18th May 2017, the Board of Directors of the Company at their meeting held today, inter-alia, have transacted the following matters also: 1. Dr B Panda, Executive Chairman who is the Founder and on the Board Of Directors of the Company since inception, has expressed his desire to step down as a Director, consequently from the post of Executive Chairman w.e.f. 18th May 2017. Board discussed the subject at length and unanimously decided to request him to continue as Director & Executive Chairman till the forthcoming Annual General Meeting and thereafter to be designated as Founder & Chairman Emeritus and to act as Advisor of the Company. 2. Approved the proposal to alter the object clause of the Memorandum of Association of the Company in accordance with Section 4, 13 and other applicable provisions of the Companies Act, 2013. The approval of Board is subject to the approval of the Members of the Company through postal ballot and subject to such other approvals, permissions, sanctions as may be necessary. 3. Approved that the 55th Annual General Meeting (AGM) of the Company will be held on Monday, the 17th July 2017 for the financial year 2016-17. The Register of Members and Share Transfer Books of the Company will remain closed from Tuesday, the 11th July 2017 to Monday, the 17th July 2017 (both days inclusive) for the 55th AGM and Dividend for the financial year 2016-17. The dividend on equity shares, if declared at the 55th AGM will be credited/despatched within 30 days of date of declaration.