Outcome of board meeting of Nicco Corporation

Held on 16 May 2014

Nicco Corporation announced that the Board of Directors of the Company at its meeting held on 16 May 2014, inter alia, has transacted the following :

1. The Board approved and took note of the following in relation to provisions of Companies Act, 2013 :-

a) Declarations made by the Independent Directors of the Company as per Section 149(7) of the Companies Act, 2013 regarding their compliance with the conditions of Independent Directorship specified under Section 149(6) of the Companies Act, 2013 as on April 01, 2014.

b) Appointment of following persons as Key Managerial Personnel of the Company under section 203 of the Companies Act, 2013 :-

Swapan Kumar Mukherjee - Managing Director
Indranil Mitra - Company Secretary
Prasanta Pandit - Chief Financial Officer.

c) Rechristening of the present 'Shareholders' Grievances Committee' to "Stakeholders Relationship cum Grievance Committee" in compliance to Section 178 of the Companies Act, 2013.

d) Rechristening of the present 'Compensation & Remuneration Committee' to 'Nomination & Remuneration Committee' pursuant to Section 178 of the Companies Act, 2013.

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