Outcome of Board Meeting

| Updated on October 28, 2013 Published on October 28, 2013

Hindustan Composites Ltd has informed BSE that the Board of Directors of the Company at its meeting held on October 28, 2013, inter alia, resolved the following:

1. In view of SEBI Circular dated January 17, 2013 and dated May 13, 2013, the Board approved the proposal of alignment of Companys existing employee benefit scheme - Carnation Welfare Trust with the revised guidelines under SEBI (ESOS & ESPS) Guidelines, 1999;

2. Approved the new Scheme HCL - Employees Stock Purchase Scheme, 2013 as per SEBI (ESOS & ESPS) Guidelines, 1999, subject to the approval of the shareholders of the Company.

3. 4. Decided to obtain the approval of shareholders for the aforementioned business by way of Postal Ballot pursuant to the provisions of Section 192A of the Companies Act, 1956 read with the Companies (Passing of Resolution by Postal Ballot) Rules, 2011 and appointed Mr. Manish L. Ghia, Practicing Company Secretary, Mumbai as the Scrutinizer for conducting the postal ballot process.

Source : BSE - >www.bseindia.com

Published on October 28, 2013
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