Ganges Securities: Outcome of Board Meeting

Further to our letter dated May 31 2019 and pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015 and all other applicable provisions we wish to inform you that the Board of Directors of Company at its meeting held today has:

1.Approved alteration in terms of issue including the date of redemption of the unlisted 1 50 000 12% Non-Convertible Cumulative Redeemable Preference Shares (NCCRPS)which is due for redemption on September 24 2019 in accordance with Section 55(3) and other applicable provisions of the Companies Act 2013 (the Act) if any;

2.Approved issuance of further 2 40 000 8.5% Non-Convertible Cumulative Redeemable Preference Shares (NCCRPS) of Rs. 100/- (Rupees Hundred) each to the existing holders of such preference shares equal to the amount due including dividend thereon subject to approval of the National Company Law Tribunal Allahabad Bench and other necessary approvals in accordance with the provisions of Section 55(3) and other applicable provisions of the Act if any;

3.Approved increase in the authorised share capital from Rs. 15 00 00 000/- (Rupees Fifteen Crores) divided into 13 50 00 00 Equity Shares of Rs. 10/- (Rupees Ten) each amounting to Rs. 13 50 00 000/- (Rupees Thirteen Crores Fifty Lakhs) and 1 50 000 Preference Shares of Rs. 100/- (Rupees One Hundred) each amounting to Rs. 1 50 00 000/- (Rupees One Crore Fifty Lakhs) to Rs. 18 00 00 000/- (Rupees Eighteen Crores) divided into 13 50 00 00 Equity Shares of Rs. 10/- (Rupees Ten) each amounting to Rs. 13 50 00 000/- (Rupees Thirteen Crores Fifty Lakhs) and 4 50 000 Preference Shares of Rs. 100/- (Rupees One Hundred) each amounting to Rs. 4 50 00 000/- (Rupees Four Crores Fifty Lakhs) by creation of additional 3 00 000 Preference Shares of Rs. 100/-(Rupees One Hundred) each and consequent alteration to the capital clause of the Memorandum of Association of the Company.