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Brightcom Group

- The Board of Directors meeting of Brightcom Group concluded with the resignations of the Chairman & Managing Director, Mr. Suresh Reddy, and the Chief Financial Officer, Mr. Narayana Raju being accepted. - A transition leadership team will oversee the leadership transition process and a search will commence for a new CEO and CFO. - The company will communicate the leadership changes internally and externally through a press release in accordance with regulations. - The Board is committed to managing this transition responsibly while prioritizing communication, compliance, stability, and stakeholder interests.

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122 views3 pages

Brightcom Group

- The Board of Directors meeting of Brightcom Group concluded with the resignations of the Chairman & Managing Director, Mr. Suresh Reddy, and the Chief Financial Officer, Mr. Narayana Raju being accepted. - A transition leadership team will oversee the leadership transition process and a search will commence for a new CEO and CFO. - The company will communicate the leadership changes internally and externally through a press release in accordance with regulations. - The Board is committed to managing this transition responsibly while prioritizing communication, compliance, stability, and stakeholder interests.

Uploaded by

Nilesh Kumar
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Ref: BCG/SE/2023/Aug-15 Date: August 27, 2023

To To
BSE Limited National Stock Exchange of India
P. J. Towers, 25th Floor, Limited
Dalal Street, Mumbai - 400001. Exchange Plaza, Bandra Kurla Complex,
BSE Scrip Code: 532368 Bandra (E), Mumbai – 400 051.
NSE Symbol: BCG

Sub: Outcome of the Board Meeting held on August 27, 2023


Ref: Reg.30 & 22 of the SEBI (LODR) Regulations, 2015

Dear Sir/Madam,
In just concluded Meeting of the Board Directors of the Company, the following
matters have been considered and approved by the Board:

1. Resignations:
- Received and acknowledged resignation letters from Mr. Suresh Reddy, who
was serving as the Chairman & Managing Director (CMD) of the company.
- Received and acknowledged resignation letters from Mr. Narayana Raju, who
held the position of Chief Financial Officer (CFO) of the company.

2. Leadership Transition:
- A Transition Leadership Team was proposed, with the responsibility of
overseeing the leadership transition process.
- The Board also approved the commencement of a search for an CEO and an
CFO to ensure the smooth continuation of essential operations.

3. Internal Communication:
- It was decided to promptly inform the company's staff about the upcoming
leadership changes. Transparent and clear communication will be maintained
throughout this transition period to ensure minimal disruption to daily
operations.

4. External Communication:
- A press release will be prepared and issued to inform the public, stakeholders,
and investors about the departure of the Chairman & Managing Director /CEO
and CFO in alignment with SEBI's interim order. The communication will be
truthful, professional, and consistent with the company's values.
5. Regulatory Compliance:
- The Board acknowledged the need for regulatory compliance. Steps will be
taken to engage with relevant regulatory bodies and ensure compliance with all
applicable regulations during this transition period.

The Board is committed to managing this leadership transition in a responsible and


strategic manner, prioritizing effective communication, regulatory compliance,
financial stability, and the well-being of the company's employees and stakeholders.
The meeting was duly commenced at 20:00 Hrs and concluded at 21:48 Hrs.
This intimation is also uploaded in the Company website: www.brightcomgroup.com.
We request you to take note of the above information on record and acknowledge the
receipt of the same.
Thanking you,
Yours Truly,
For Brightcom Group Limited

Vankadara Digitally signed by


Vankadara Rajesh

Rajesh Date: 2023.08.27


22:06:20 +05'30'
_______________________
Rajesh Vankadara
Company Secretary
Annexure – 1

Details pursuant to SEBI Circular No. CIR/CFD/CMD/4/2015 dated


September 09, 2015

Details of Mr. M Sures Kumar Reddy,


# Particulars Resignation as Chairman & Managing
Order
Reason for change viz.
1 Appointment, Resignation, Resignation
Removal, Death or otherwise;
Date of Appointment /
2 Cessation (as applicable) & August 27, 2023
term of appointment;
Brief profile (in case of
3 Not Applicable
appointment);
Disclosure of relationships
4 between directors (in case of Not Applicable
appointment of a director)

Details of Mr. Narayana Raju, Resignation


# Particulars
as Chief Financial Officer
Reason for change viz.
1 Appointment, Resignation, Resignation
Removal, Death or otherwise;
Date of Appointment /
2 Cessation (as applicable) & August 27, 2023
term of appointment;
Brief profile (in case of
3 Not Applicable
appointment);
Disclosure of relationships
4 between directors (in case of Not Applicable
appointment of a director)

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