Outcome of Board Meeting (EGM on March 20, 2017)

• Security Code: 532850
• Company: MICEL

MIC Electronics Ltd has informed BSE that the Board of Directors of the Company at its meeting held on February 18, 2017, approved the following:

1. Increasing the Authorised Share Capital of the company by Rs. 4 (Four) Crores.

2. Conversion of Debt into Equity by way of issue of 4,32,93,974 (Four Crores Thirty Two Lakhs Ninety Three Thousand Nine Hundred and Seventy Four) equity shares at issue price of Rs. 20/- per share (Face Value of Rs. 2/- each at premium of Rs. 18/- each).

3. Calling for Extra-ordinary General Meeting of the Company scheduled to be held on March 20, 2017 at 11.00 AM at Registered office of the Company situated at A-4/II Electronic Complex, Kushaiguda, Hyderabad - 500062, to consider and approve the Item No. 1 and 2 by the members.