Outcome of Board Meeting

• Security Code: 506105
• Company: STANROS

As per Regulations 30 and 33 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we have to inform you that the Meeting of the Board of Directors of the Company commenced today at 3.00 P.M. and concluded at 7.00 P.M. and the following business was transacted: 1.The Board has approved and taken on record the Standalone and Consolidated Audited Financial Results for the Quarter and Year ended on 31st March, 2017. Enclosed herewith the same along with the Auditors' Reports thereon. 2.The Board has recommended a dividend of Rs.6/- per share (60%) for the year ended March 31, 2017 and is payable subject to the approval of the shareholders at the ensuing Annual General Meeting. 3.Shri Bharat N. Dave has tendered his resignation from the post of Chief Executive Officer, due to his old age. The Board accepted his resignation and recorded its appreciation of the valuable services rendered by him. A copy of his letter of resignation is enclosed herewith. 4.The Board has appointed M/s. Manubhai & Shah LLP as the Statutory Auditors of the Company in place of M/s. C. C. Chokshi & Co. to hold office from the conclusion of the Thirty-seventh Annual General Meeting to the conclusion of the Forty-second Annual General Meeting, subject to the approval of the Members at the ensuing AGM. Brief profile of the Firm, as required under the Regulations, is enclosed. 5.Based on the recommendation of the Nomination and Remuneration Committee, the Board has re-appointed Shri Arun P. Patel and Shri Rajesh Jaykrishna, Independent Directors, for a further period of three years from the forthcoming Annual General Meeting i.e. Thirty-seventh Annual General Meeting to the conclusion of the Fortieth Annual General Meeting, subject to the approval of the Members at the ensuing AGM. 6.In order to facilitate consolidation of Share Certificates, encourage dematerialization and reduce risks of fraud, the Board has decided to issue new share certificates with re-organised distinctive numbers in respect of the shares held in physical form in exchange of old share certificates. For the purpose, 12th May, 2017 has been fixed as the cut-off date for ascertaining the list of shareholders holding shares in physical form, to whom new share certificates would be issued. Prior to the issuance of new share certificates, all existing share certificates including those held in the former name of the Company, Sandeep Holdings Limited, shall be cancelled with immediate effect from the above cut-off date and will be treated as bad delivery for all purposes. Members will have to surrender their old share certificate/s in exchange of the new ones. Kindly take the above information on your record.