Further to our letters dated October 19, 2023 and October 23, 2023 respectively, the Board of Directors of the Company at its meeting held earlier today, transacted the following business: 1. Financial Results 2. Acquisition of 2,59,000 equity shares of Piem Hotels Limited (Piem Hotels), a subsidiary of the Company, held by New Vernon Private Equity Limited (New Vernon) (representing 6.80% of the paid-up equity share capital of Piem Hotels), by way of a combination of share swap and cash 3. Acquisition of 10,718 equity shares of Piem Hotels held by Tata Investment Corporation Limited (TICL) (representing 0.28% of the paid-up equity share capital of Piem Hotels), by way of a share swap 4. Issuance of equity shares on a preferential basis to New Vernon and TICL, for consideration other than cash 5. Seeking approval of shareholders for issuance of equity shares on a preferential basis through Postal Ballot (e-voting only)