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Outcome of Board Meeting

| Updated on September 28, 2011 Published on September 28, 2011

Dil Ltd has informed BSE that the Board of Directors of the Company at its meeting held on September 28, 2011, has Considered and approved the following:

1. The Board of Directors of DIL has approved the execution of a Share Purchase Agreement (Agreement) primarily between DIL Ltd (Transferor) and Evotec AG (Transferee), concerning transfer of 1,09,26,000 fully paid equity shares (face value of Rs. 2/- per share) i.e. 30% of the paid up equity share capital of Evotec (India) Pvt. Ltd. (EIPL), currently an associate company of DIL, for a total consideration of Rs. 11,29,33,210 (Rupees Eleven crores Twenty nine lakhs Thirty three thousand Two hundred ten only). The above transaction is anticipated to close on October 04, 2011.

Post transfer of shares in EIPL, DIL will not hold any equity shares in the paid up equity share capital in EIPL.

2. The Board of Directors of DIL has also approved and authorized filing of requisite application(s) with statutory authorities, including Thane Municipal Corporation, for seeking permission to redevelop part of its Thane property situated at DIL complex, Ghodbunder Road, Majiwada, Thane (West) —400610.

Source : BSE - >www.bseindia.com

Published on September 28, 2011
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