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| Exchange Received Time 08/08/2018 19:41:02 Exchange Disseminated Time 08/08/2018 19:41:11 Time Taken 00:00:09 | Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 ('Listing Regulations') and other applicable provisions, please note that the Board of Directors of the Company at its meeting held today i.e. on Wednesday, 8th August, 2018, inter-alia, considered and approved the following:
1. In line with Government's declared policy of enhancing Ethanol production, addition in capacity in respect of two of the distilleries of the Company viz. Athani and Havalga, both located in Karnataka and an additional investment of upto Rs. 225 crores;
2. Reclassification of Promoters of the Company necessitated post implementation of the Resolution Plan by the Company;
3. Decision to acquire further shares in Gokak Sugars Limited, one of the subsidiary company of the Company;
4. Issuance of Redeemable Preference Shares to LIC of India in lieu of existing Non-Convertible Debentures to the tune of Rs. 125 crores; and
5. Amendment in Memorandum of Association and certain clauses of Articles of Association of the Company subject to approval of the shareholders of the Company.
You are requested to please take the same on your records.
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