Outcome of Board Meeting (EGM on November 01, 2016)

• Security Code: 524324
• Company: SEYAIND

Seya Industries Ltd has informed BSE that the Board of Directors of the Company at its meeting held on October 06, 2016, inter alia, has considered and approved following :

1. Increase in Authorized Share capital to Rs.176.30 crores by adding 5300000 equity shares of Rs.10/- each.

2. Alteration in Memorandum of Association and Articles of Associations

3. Terms of the unsecured loan provided by the persons acting in concert with the promoter group of the Company.

4. To create, issue, offer and allot, on preferential basis, 70,50,000 equity shares of the face value of Rs.10/- each at a minimum price of Rs. 180 (including premium of Rs. 170/- per equity share) for a total consideration of Rs. 1,26,90,00,000 by converting the unsecured loan to the persons acting in concert with the promoter group of the Company, subject to approval of the shareholders of the Company.

5. To create, issue, offer and allot, on preferential basis through private placement, 23,00,000 equity shares of the Company of the face value of Rs.10/- each at a minimum price of Rs.180/- (including premium of Rs.170/- per equity share) for a total consideration of Rs. 41,40,00,000/-, subject to approval of the shareholders of the Company.

6. To raise funds through issue of upto 4,00,000 Warrants on preferential allotment basis to Mr. Jayesh Madhavji Parmar at Rs.180/- per warrant or the minimum price determined in accordance with the SEBI (ICDR) Regulations and applicable law, whichever is higher, convertible at the option of the holders into equivalent number of Equity Shares, subject to the approval of the shareholders and all statutory authorities.

7. To issue upto 38,50,000 Warrants, on preferential allotment basis to the persons acting in concert with the promoter group of the Company at Rs.180/- per warrant by converting unsecured loan given by them to the Company, subject to the approval of the shareholders and all statutory authorities. The warrants are convertible at the option of the holders into equivalent number of Equity Shares.

8. To apply for Listing of equity shares on National Stock Exchange Ltd (NSE).

9. Convene Extraordinary General Meeting (EOGM) of the shareholders on November 01, 2016 to approve above business.