The Board of Directors of MAURITIUS COSMETICS LIMITED (MCL) wishes to inform the shareholders of the Company and the public in general that subject to the approval of the relevant authorities and of its shareholders at a forthcoming special meeting, MCL intends to proceed with a rights issue of 3,000,000 shares of Rs 10 each to the shareholders, at an issue price of Rs 37.50 per share in the ratio of one (1) new ordinary share for every five (5) ordinary shares held on a date to be notified to the shareholders once the above-mentioned formalities have been completed.

The proceeds of the rights issue will be used to finance the purchase of two strategic properties which will complement the existing real-estate portfolio of the Company.

The shareholders of MCL and the investing public are therefore advised to exercise caution when dealing in the shares of MCL and will be kept informed of any further developments.