Cerebra Integrated Technologies: Outcome of Board Meeting

As already informed vide our letter dated 20th December, 2018 and based on the in principle approvals referred above, the Board of Directors of Cerebra Integrated Technologies Limited, Bangalore at its Meeting held on 21st December, 2018 which commenced at 04:00 PM and concluded at 04:25 PM transacted the below mentioned business:

1. Considered the request of conversion of 8,00,000 Warrants into equivalent number of Equity Shares and proceeded to allot 8,00,000 Equity Shares of Rs 10/- each at a premium of Rs. 30/- per Share to certain Promoters on Preferential basis upon exercise of options by the Warrant holders

Further, the Board also be informed that based on the intimation from the Warrant Holders holding 45,00,000 Warrants conveying their inabilities to further exercise their rights of conversion of warrants into equivalent number of Equity Shares, Rs. 4,50,00,000/- have been forfeited.