The Board of Directors of the Forbes & Company Limited has appointed Ms. Ashlesha A. Gowariker as an Independent Director on the Board of the Company with effect from June 30, 2016. Ms. Ashlesha will hold office upto the date of the ensuing Annual General Meeting, wherein her appointment as an Independent Director will be placed before the shareholders for approval. 2. Mr. S.L. Goklaney, Director of the Company has due to his other professional and personal commitments resigned from the Board of Directors of the Company with effect from June 30, 2016.