Stovec Industries informs about outcome of board meeting

Stovec Industries has informed that the current tenure of Shailesh Wani as a Managing Director of the Company would be expiring on September 30, 2016. Based on the recommendation of the Nomination and Remuneration Committee, the Board of Directors in its meeting held on February 16, 2016, has re-appointed Shailesh Wani as a Managing Director of the Company for a period of 3 years with effect from October 01, 2016, subject to the approval of Members in the forthcoming Annual General Meeting of the Company.

The above information is a part of company’s filings submitted to BSE.