Outcome of Board Meeting

• Security Code: 506079
• Company: LAKPRE

Lakshmi Precision Screws Ltd has informed BSE that the Meeting of the Board of Directors of the Company held on August 13, 2016, the meeting was started at 1:30 p.m. and concluded at 8:15 p.m.:

1. Noted resignation of Mr. Rakesh Puri, Independent Director w.e.f. June 29, 2016, Mr. Sushant Umre, Additional Director w.e.f. June 29, 2016, Mr. Indradip Banerjee w.e.f. June 30, 2016.

2. The agenda item for approval of Un-audited Financial Results for the quarter ended on June 30, 2016 was deferred to next meeting for want of adequate information on Financial Results by the Audit Committee.

3. Recommended to the shareholders, the Re-appointment of Mr. Vijay Kumar Jain and Mr. Rajesh Jain Directors of the Company, those retire by rotation and being eligible offers themselves for re-appointment.

4. Approved appointment of Mr. Suresh Kumar as Scrutinizer for conducting e-voting for the 47th AGM to be convened on September 29, 2016.

5. Approved the Board Report along with Annexure for financial year 2015-16.

6. Fixed the date of ensuing 47th Annual General Meeting to be held on September 29, 2016 and approved the Cut-off date for determining the entitlements of Members to attend and vote at AGM is August 12, 2016.

7. As per request of the Board of Directors Mr. Bhuwan Kumar Chaturvedi, extended his effective date of resignation till the August 31, 2016.

8. Approved sale of Land to M/s. Universal Precision Screws (UPS) a partnership firm, Related Party, where Directors of the Company are, partners, and transaction is falling under the purview of Section 188 (1) (b) of the Companies Act, 2013 read with Rules 15 of the Companies (Meeting of Board and its Powers) rules 2014, and other applicable provisions, if any, of the Companies Act, 2013 and Rules made there under read with Regulation 23 of the SEBI (Listing Obligations and Disclosure requirements) Regulations, 2015, which need recommendation from Audit Committee and approval from the Board, the necessary approvals obtained, the other required details as per clause no. 5 PARA B of Part A of Schedule III of SEBI (LODR), 2015.