Kshitij Polyline : Outcome of Board Meeting

To	Date: September 16, 2022
National Stock Exchange of India Limited
Exchange Plaza, Bandra Kurla Complex
Bandra (E), Mumbai - 400051
NSE Symbol: KSHITIJPOL

Sub: Regulation 30 of SEBI LODR: Outcome of Board Meeting held on

September 16, 2022

Dear Sir/Madam,

Pursuant to Regulation 30 read with Part A of Schedule III and all other applicable regulations, if any, of the SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015, the Board of Directors at its meeting held today i.e., Friday, September 16, 2022, at 2:00 P.M. at the registered office of the Company, which concluded at 3:30 P.M., inter alia approved the following matter:

1. Recommended the proposal for split/sub-division of the Company's one (1) equity share of the face value of Rs. 10/- each into 5 (Five) equity shares of the face value of Rs. 2/- (Two) each, subject to the approval of shareholders and other approvals as may be required. The Record Date will be intimated in due course, upon receipt of approval of shareholders.
2. Alteration in the Capital Clause V of the Memorandum of Association, subject to the approval of shareholders and other approvals as may be required. Brief of alteration in MoA in terms of SEBI Circular attached as Annexure - 2
   The details as required under Regulation 30 of the SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015, read with SEBI Circular No. CIR/CFD/CMD/4/2015 dated September 09, 2015 is provided in Annexure 1.
3. The Board has also decided that an Extra-Ordinary General Meeting (EGM) of the Company be convened on Tuesday, October 11, 2022, at 11.00 through Video Conferencing/Other Audio-Visual Means (OAVM), in compliance with the relevant provisions of the Companies Act, 2013 and the rules made thereunder.
4. The Company has fixed Monday, October 4, 2022, as the 'Cut-off for the purpose of determining the members eligible to vote on the resolutions set out in the Notice of the EGM.

5. Appointment of CS Ajay Vadnerkar, Proprietor of M/s. Ajay Vadnerkar & Company, Practicing Company Secretary, as Scrutinizer.

The Board of Directors has also approved the Draft Notice of Extra-Ordinary General Meeting to be sent to the members seeking their approval for the aforesaid business matters.

You are requested to please take the above disclosures into your records.

For Kshitij Polyline Limited

______________________
Bharat Gala	Place: Mumbai
Managing Director	Date: 16-09-2022
DIN:01994342
Address: Mumbai

Annexure 1

The details as required under Regulation 30 of the SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015, read with SEBI Circular No. CIR/CFD/CMD/4/2015 dated 9th September 2015 is provided in Annexure 1.

Sr.	Particular	Information
No.
1	Split or consolidation		1 (One) equity	share of the face value of Rs. 10/-
	Ratio;		(Rupees Ten) each fully paid-up into 5 (Five) equity
			shares of the face value of Rs. 2/- (Rupees Two) each
			fully paid-up.
2	Rationale;	To encourage	wider participation of small retail
			investors and to enhance the liquidity of equity shares
			of the Company in the Share market.
3	Pre and Post Capital;	Equity shares capital structure
			Authorised Capital
			Particulars		Pre-split	Post-Split
			No. of Share	2,00,00,000		10,00,00,000
			Face value Rs.	10		2
			Share Capital		20,00,00,000/-		20,00,00,000/-
			in Rs.
			Issued Capital
			Particulars		Pre-split	Post-Split
			No. of Share	10130466		50652330
			Face value	10		2
			Share Capital		101304660		101304660
			in Rs.
			Subscribed and Paid-Up Capital (fully paid up shares)
			Particulars		Pre-split	Post-Split
			No. of Share	10130466		50652330
			Face value	10		2
			Share Capital		101304660		101304660
			in Rs.

		The Company is in process of issuing up to 45,00,000
		(Forty-five Lakhs) Equity convertible share warrants.
		The Company has also got approval for KPL ESOP 2022
		under which ESOP exercisable into not more than
		10,00,000 (Ten lacs only) equity shares of face value of
		10/- (Rupees Ten each) each fully paid-up, where one
		Option would convert into one equity share upon
		exercise, on such terms and in such manner as the
		Board/Committee may decide in accordance with the
		provisions of the applicable laws and the provisions of
		the Plan. The same corporate action of splitting of
		shares will be extended to them on conversion into
		equity shares.
4	Expected time of	Within the prescribed timelines specified in this regard,
	completion;	if any
5	Class of shares which	Ordinary Equity share (There is only one class of Equity
	are sub-divided;	shares)

• Number of shares of Equity shares capital structure (Only one class of

each class pre and	share)
post-split;
	Authorised Capital
	Particulars	Pre-split	Post-Split
	No. of Share	2,00,00,000	10,00,00,000
	Face value Rs.	10	2
	Share Capital		20,00,00,000/-	20,00,00,000/-
	in Rs.
	Issued Capital
	Particulars	Pre-split	Post-Split
	No. of Share	10130466	50652330
	Face value	10	2
	Share Capital		101304660	101304660
	in Rs.

Subscribed and Paid-Up Capital (fully paid up shares)

	Particulars	Pre-split	Post-Split
	No. of Share	10130466	50652330
	Face value	10	2
	Share Capital	101304660	101304660
	in Rs.

			The Company is in process of issuing up to 45,00,000
			(Forty-five Lakhs) Equity convertible share warrants.
			The Company has also got approval for KPL ESOP 2022
			under which ESOP exercisable into not more than
			10,00,000 (Ten lacs only) equity shares of face value of
			10/- (Rupees Ten each) each fully paid-up, where one
			Option would convert into one equity share upon
			exercise, on such terms and in such manner as the
			Board/Committee may decide in accordance with the
			provisions of the applicable laws and the provisions of
			the Plan. The same corporate action of splitting of
			shares will be extended to them on conversion into
			equity shares.
7	Number	of	Not applicable.
	shareholders who	did
	not get any shares in
	consolidation and their
	pre-consolidation
	shareholding;

Annexure 2

Amendments to Memorandum of Association of the Company, in brief

The Board of Directors of the Company at its Meeting held on September 16, 2022, subject to approval of the Members, approved alteration of Capital Clause (Clause V) of the Memorandum of Association of the Company as below:

V. The Authorized Share Capital of the Company is INR 20,00,00,000/- (Rupees Twenty Crore only), divided into 10,00,00,000 (Ten Crore only) equity shares of INR 2/- (Rupees Two only) each.

For Kshitij Polyline Limited
______________________
Bharat Gala	Place: Mumbai
Managing Director	Date: 16-09-2022
DIN:01994342
Address: Mumbai