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Outcome of board meeting of NCL Industries

NCL Industries announced that the Board of Directors of the Company at its meeting held on 29 January 2016, inter alia, has transacted the following:

1. The Board declared an interim dividend of 10% amounting to Rs. 1/- per Equity Share (Face value of Rs. 10/- each) on a capital base of Rs. 3673.28 Lakhs for the financial year 2015-16.

2. The Board approved the proposal to enhance the present limit of borrowing by issue of Secured Non Convertible Redeemable Debentures (NCDs) from Rs. 320 crore to Rs. 325 crore on a private placement basis to be deployed for the following:

i) Repayment of dues for the existing Term Lenders.

ii) To finance augmentation of the capacity of Cement & Boards Divisions.

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