AVANTI FEEDS LTD. - Outcome of Board Meeting (Sub-Division)

Avanti Feeds Ltd has informed BSE that the Board of Directors of the Company at its meeting held on September 12, 2015 has decided the following:<BR><BR>The Board accorded consent subject to approval of the Members and other necessary approvals for -<BR><BR>1. Transfer of Shrimp Processing Business of the Company to Avanti Frozen Foods Private Limited( a wholly owned subsidiary of Avanti Feeds limited) on a going concern basis by way of slump sale at a value not lower than the net book value of the assets and liabilities of Shrimp Processing Business<BR><BR>2. Sub-division of nominal value of equity shares of the Company from Rs.10/- (Rupees Ten only) each to Rs.2/- (Rupees Two only) each and consequential amendments to (a) alteration of Capital Clause of Memorandum of Association and (b) alteration of Capital Clause of Articles of Association.<BR><BR>Further, The Board decided to seek the approval of the Members of the Company by way of Postal Ballot in respect of the above items. The Record date for the purpose of reckoning the Voting Rights for the Postal Ballot is September 18, 2015.The Postal Ballot Notice will be sent to the Members whose names appear in the Register of Members / Record of Depositories as on September 18, 2015.<BR><BR>Further, The Board also accorded in-principle approval for setting up a power consumption Wind Mill for captive power consumption.