Gujarat Toolroom Ltd has informed BSE that the Board of Directors of the Company at its meeting held on May 24, 2011, inter alia, has considered and decided the following businesses:

1. To change the management control of the Company under Regulation 12 of SEBI (Substantial Acquisition of Shares and Takeover) Regulation, 1997, subject to approval of the shareholders of the Company through postal Ballot.

2. To Appoint Mr. Vishal M. Shah as Director of the Company, subject to approval of the shareholders of the
Company through postal Ballot.

3. To Appoint Mr. Bhavin S. Parikh as Director of the Company, subject to approval of the shareholders of the Company through postal Ballot.

4. To alter main object clause of the Memorandum of Association of the Company, subject to approval of the shareholders of the company through postal Ballot.

5. Approved the Postal Ballot Notice along with calendar of events to be intimated to Registrar of Companies, Gujarat and appointed Mr. Devesh Khandelwal, Company Secretary as a Scrutinizer for conducting the postal Ballot process.