Intellect Design Arena Ltd.

Intellect Design Arena has informed that Board of Directors in its meeting held on 21st June, 2018 has approved Retirement of S. Swaminathan as Chief Financial Officer of the Company with effect from the closing hours of June 30, 2018, Appointment of Venkateswarlu Saranu as Chief Financial Officer of the Company with effect from July 01, 2018 on the recommendation of Nomination Remuneration and Compensation Committee and Audit Committee, Extending an invitation to Andrew England to be on the Board of the Company on the recommendation of the Nomination Remuneration and Compensation Committee and taking on record the sale of 1.50 acres of land located at Hyderabad for a consideration of Rs.38 crores. The meeting commenced at 9.15 am and concluded at 9.45 am.

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