Outcome of Board Meeting

• Security Code: 524019
• Company: KINGFA

Kingfa Science & Technology (India) Ltd has informed BSE that the Board of Directors of the Company at its meeting held on October 24, 2016, inter-alia has approved and discussed the following items:

1. Took Note of Draft Lease Agreement to be signed with MIDC for the land situated at Chakan Industrial Area in Pune for setting up of the new manufacturing facility.

2. Taken on record the resignation of Ms.Kamana Srikanth, Independent Director from the Board of the Company due to her other pre-occupations and personal reasons with effect from October 24, 2016. Board also appreciated her contribution as an Independent Director and wished her best wishes for her future endeavor.

3. Taken on record the retirement of Mr. S.K. Subramanyan consequent to his superannuation and that he ceases to be Company Secretary and Compliance Officer of the Company with effect from October 24, 2016. Board also appreciated his contribution as the Company Secretary and Compliance Officer.

4. Appointed Mr. Nirnoy Sur as the Company Secretary and Compliance Officer of the Company with effect from October 24, 2016.

5. Considered equity fund raising proposals and approved an issue of equity shares on a ‘Rights’ basis to the existing equity shareholders of the company to the extent of about Rs.150 crores or such amount as may be decided by Right Issue Committee.

The Board had constituted a Sub-Committee called “Right Issue Committee” to decide upon the time for Rights Offer, Quantum of Offer, Pricing, Book Closure and other formalities.

6. Approved Code of internal procedures and conduct for regulating, monitoring and Reporting of trading by insiders as per SEBI Insider Trading Code, 2015.

7. Approved Plans for Orderly Succession for Appointments to the Board and to Senior Management pursuant to Regulation 17(4) of Chapter IV of SEBI (Listing Obligations and Disclosure Requirements), 2015.

8. Reviewed the Performance Evaluation of Non-Executive/Independent Directors and Board of Directors.

Further, the Company has inform that Independent Director’s Meeting was held today and all the agenda items as required under the Companies Act, 2013 and Listing Regulations for Independent Director’s Meeting were transacted thereat.