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Outcome of board meeting of Ahlcon Parenterals (India)

Ahlcon Parenterals (India) announced that the Board of Directors of the Company at its meeting held on 13 May 2014, inter alia, has considered and approved as follows:

1. a - During the year ended 31 March 2014, preference shareholders have exercised the call / put option and accordingly consent of the Board was accorded and preference shares of Rs 90 lakh were redeemed, out of the profits of the Company.

b - Company has paid preference dividend of Rs 3,94,882 (Exclusive of tax) during the quarter ended 31 March 2014. Aggregate preference dividend paid during year ending 31 March 2014 amounted to Rs 9,34,882 (Exclusive of tax).

2. During the year the Company has initiated programme for expansion of capacities, at its existing Bhiwadi plant in Rajasthan, the estimated cost of which is approximately Rs 190 crore, to be met through debts / internal accruals, and is expected to commence commercial production in quarter ended December 2014.

3. The board of directors, on 29 November 2013 and shareholders of the Company on 10 February 2014 (Special Resolution passed through postal ballot) have approved the delisting of equity shares of the Company (subject to receipt of all regulatory approval) from the stock exchanges on which the equity shares of the Company are presently listed i.e. Bombay Stock Exchange, Delhi Stock Exchange, the Calcutta Stock Exchange, and Jaipur Stock Exchange in accordance with the Securities and Exchange Board of India (Delisting of Equity Shares) Regulations, 2009.

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