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Outcome of board meeting of Signet Industries

Signet Industries announced that the Board of Directors of the Company at its meeting held on 16 February 2016, has transacted the following business: -

1. The Board of Directors of the Company has decided, to acquire the Engineering Business of Adroit Industries (India), a promoters group Company on a slump sale basis, through its 100% subsidiary Company Adroit Drivelines;

2. The Board of Director has given their consent to issue Equity Shares by way of private placement / preferential allotment, basis as per Section 62 of the Companies Act, 2013 and subject to other provision of applicable laws subject to approval of shareholders;

3. The Board has decided to held the Extra-ordinary general meeting (EGM) of the Company at 11.00 AM on 18 March 2016 at the Corporate office of the Company at 314/3 SDA Compound, Lasudia Mori, Dewas Naka, Indore-452020.(M.P).

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