This is to inform you that a Meeting of Board of Directors of the Company was held today at 4.00 P.M on Saturday,\r\n20thApril, 2024 and outcome of the meeting is as under: \r\n\r\n1. ISSUANCE OF EQUITY SHARES OF THE COMPANY ON PREFERENTIAL BASIS:\r\nThe Board of Directors of the company has approved to raise funds upto Rs.7,00,00,000 by way of issue of equity shares on a preferential basis as per Chapter V of SEBI (ICDR) Regulations, 2018, subject to approval of shareholders and other authorities concerned.\r\n\r\n2. DISPOSAL OF SHARES OF C.G.ISPAT PRIVATE LIMITED HELD AS INVESTMENT\r\nThe Board of Directors of the company has approved sale of 20,77,250 equity shares in C.G.Ispat Private Limited, an\r\nAssociate Company of the Company, held as investment in order to raise funds for the development of proposed 30 MW Solar Power plant, subject to approval of shareholders.\r\n\r\n