BANNARI AMMAN SPINNING MILLS LTD. - Outcome of Board Meeting

Bannari Amman Spinning Mills Ltd has informed BSE that the Board of Directors of the Company at its meeting held on May 25, 2016, inter alia, have decided to:<BR><BR>1. make M/s. Accel Apparels Private Limited a wholly owned subsidiary of the Company by investing in 5,000 Equity shares of Rs. 10/- each, to implement a Garment Project in the near future and<BR><BR>2. make M/s. Abirami Amman Mills Private Limited a wholly owned subsidiary of the Company by investing in 1,00,000 equity shares of Rs. 10/- each, to carry on the trading in yarn, fabrics etc.,