GAYATRI PROJECTS LTD. - Outcome of Board Meeting

Gayatri Projects Ltd has informed BSE that the Board of Directors of the Company at its meeting held on September 03, 2015, inter alia, has approved the following:<BR><BR>1. Re-Appointment of Mr. J. Brij Mohan Reddy, as Executive Vice Chairman (Whole time KMP) of the Company subject to the approval of members in the ensuing Annual General Meeting of the Company.<BR><BR>2. Appointment of Shri. Umakant K. Bijapur, as Nominee director, nominated by the Bank of Baroda (The Lead Bank) pursuant to the Master Restructuring Agreement entered by the Company.<BR><BR>3. Allotment of 1619386 equity shares to promoters at price of Rs. 203.78 (including a premium of Rs. 193.78 per equity share) by way of conversion of unsecured loan of Rs. 33.00 Crores extended by them as a part of restructuring package approved by the Joint Lenders form (JLF).<BR><BR>4. Adoption of new set of Articles of Association as per the provisions of the Companies Act, 2013 subject to the approval of the members in the annual general meeting.