Outcome of Board Meeting - Appointment of Managing Director

• Security Code: 523405
• Company: JMFINANCIL

JM Financial Ltd has informed BSE that Mr. Nimesh Kampani, who is currently the Managing Director of JM Financial Limited (“the Company”), has voluntarily announced his decision to step down from the executive role of the Company with effect from September 30, 2016 on his attaining 70 years of age and as a part of succession planning at the Company. The original term of Mr. Kampani as the Managing Director as per his contract is up to March 31, 2017. This will now end on September 30, 2016. Mr. Kampani will continue to be the non-executive Chairman of the Company as well as of the Group. He will also continue to be a director on the Board of a few group companies at JM Financial.

Further, the Board of Directors of the Company at its meeting held on August 02, 2016, has decided to appoint Mr. Vishal Kampani as the Managing Director of the Company with effect from October 01, 2016. Mr. Vishal Kampani who is currently a non-executive director of the Company, is actively engaged with various businesses at JM Financial Group since last two decades. Mr. Vishal Kampani is the Managing Director of the Group’s NBFC, viz., JM Financial Products Limited and also heads the Institutional Securities Business of the Group.