UNIVERSAL STARCH-CHEM ALLIED LTD. - Outcome of Board Meeting

Universal Starch Chem Allied Ltd has informed BSE that the Board of Directors of the Company at its meeting held on May 30, 2014, has resolved the following:<br/><br/>1. Accepted the resignation of Mr. Vishwanath G. Subramanian, Independent Director from the Board of Directors of the Company with effect from May 30, 2014.<br/><br/>2. Appointed Ms. Sudha Modi as an independent Director on the Board of Directors of the Company with effect from May 30, 2014.<br/><br/>3. Constituted a Nomination and Remuneration Committee of the Board of the Directors of the Company and appointed the following directors as members of the Committee<br/><br/>i) Mr. Dev Prakash Yadava- Chairman<br/>ii) Mr. Ashok N. Kothary- Member<br/>iii) Ms. Sudha Modi- Member<br/><br/>4. Renamed the Shareholders Grievance Committee as Stakeholders Relationship Committee/ Shareholders' Grievance Committee.