In continuation of our earlier announcements in this regard and subsequent to receipt of 'In Principle' approval from the Stock Exchanges we would like to inform that Board of Directors through Circular Resolution dated February 21, 2022 has approved allotment of 41,44,662 (Forty One Lakhs Forty Four Thousand Six Hundred and Sixty Two) Equity Shares of face value of Rs. 1/- (Rupees One each) fully paid up, each ranking pari-passu with existing equity shares of the Company, at a price of Rs.1 (Rupee One) each, upon conversion of existing loan, on a preferential basis to New Bonanza Impex Private Limited, a Promoter Entity. You are requested to take the above intimation on record.