Outcome of Board Meeting

• Security Code: 522034
• Company: SHANTIGEAR

Shanthi Gears Ltd has informed BSE that the Board of Directors of the Company at its meeting held on September 03, 2012, has co-opted the following Additional Director on the Board:

1. Mr. M M Murugappan
2. Mr. L Ramkumar
3. Mr. C R Swaminathan
4. Mr. J Balamurugan
5. Mr. Sreeram Srinivasan

Further the Company inform that at the aforesaid meeting, the following Directors resigned/stepped down from the Board, effective today (viz., September 03, 2012):

1. Mr. P Subramanian (resigned as Director and also as Managing Director)
2. Mr. M J Vijayaraaghavan
3. Dr. D Padmanaban
4. Mr. C G Kumar
5. Mr. M Alagiriswamy

Further, Mr. Sreeram Srinivasan was appointed as the President & Executive Director of the Company, effective from the close of business hours today (viz., September 03, 2012).