VBC Ferro Alloys Ltd has informed BSE that the Board of Directors of the Company at its meeting held on September 15, 2009, has reviewed performance of the Company and also decided as follows: The board has given in principle approval for the proposal of Merger of Orissa Power Consortium Ltd (OPCL) with VBC Ferro Alloys Ltd., which is one of the promoters of OPCL, subject to the approvals from concerned authorities. The board considered and approved the following: The Board has considered and accorded its in-principle consent for merger of Orissa Power Consortium Limited with VBC Ferro Alloys Limited and authorized Shri M.V. Annathakrishna, Whole-time Director to take necessary steps including appointment of Valuers, Advocates and Consultants. (As Per BSE Announcement Dated On 28/01/2019) Pursuant to Regulations 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we hereby inform you that a meeting of the Board of Directors of the Company held on 13th November, 2019 and the same was adjourned and held on 15th November 2019 at the Registered Office and the board considered and approved the following: 1 . The Board reviewed and taken on record the Un-Audited Financial Results or the quarter/half year ended 30th September 2019 2. Board approved the valuation report and scheme for merger of Orissa Power Consortium Limited with VBC Ferro Alloys Limited. 3. Board approved the valuation report and scheme for demerger of Power Project Division in VBC Power Company Limited. 4. Authorized Shri M.V. Ananthakrishna Whole-Time Director to file scheme of Merger and Demerger with Bombay Stock Exchange and to do all other required works as may be required in this regard (As per BSE Announcement Dated on 15.11.2019) 1. The Board reviewed and taken on record the Un-Audited Financial Results for the quarter/half year ended 31st December 2019 2. The Board decided to take up the demerger of the Power Division from VBC Ferro Alloys Limited on a priority basis first and the merger of Orissa Power Consortium Limited with VBC Ferro Alloys Limited later in phase II. (As Per BSE Announcement dated on 14.02.2020)