Outcome of Board Meeting

• Security Code: 532887
• Company: NTL

Sujana Towers Ltd has informed BSE that the Board of Directors of the Company at its meeting held on May 30, 2016, inter alia, has approved the following:

1. Resignation of Smt B.Sandhyasri as a Director of the Company.

2. Passed resolution to change the name of the Company from “Sujana Towers Limited" to "STL Limited" subject to the approval of members of the Company.

3. Passed resolution to increase the Authorised Capital of the Company from Rs. 100 crores to Rs. 1000 crores subject to the approval of members of the Company.

4. Passed resolution to issue the Cumulative Redeemable preference shares (CRPS) subject to the approval of members of the Company.

5. Shifting of the Registered office of the Company within the same state.

6. Passed a resolution confirming the action taken by the Lenders of the Company stipulating the invocation of the provisions of SDR Circular under Strategic Debt Restructuring Scheme (SDR) formulated by Reserve Bank of India vide Circular dated June 08. 2015 and/or Circular September 24, 2015, subject to the approval of the members of the Company through postal ballot and subject to approvals, permissions, sanctions and consents as may be necessary from any regulatory or other appropriate authorities and authorized management committee to take necessary decisions/steps to complete the process of SDR/outside SDR.

7. Approve the draft notice of postal ballot and other items of business with respect to the postal ballot process and authorized management committee to amend and issue the notice of postal ballot, appoint Scrutinizer and to do all necessary incidental acts pertaining to postal ballot.

8. Re-appointment of M/s Nageswara Rao & Co, Cost Accountants, Hyderabad, as Cost Auditor of the Company for the financial year 2016-17.

9. Re-appointment of Shri M. Balarama Krishnaiah, Chartered Accountant, Hyderabad as Internal Auditors of the Company for the Financial year 2016-17.

10. Appointment of Shri Y. Ravi Prasada Reddy, Practicing Company Secretary, Hyderabad as Secretarial Auditors of the Company for the financial year 2016-17.

11. The Board of Directors decided to withdraw the Business Trans agreement entered into with Agarwal Steel Structurals (India) Private Limited for sale of assets of the Company.