Magma Fincorp Limited informed that pursuant to Regulation 30 of the Listing Regulations, the Board of Directors approved the appointment of Mr. Amar Deshpande as Additional Director in the capacity of Non-Executive Director of the company with effect from 3 June 2021 on the Board of the Company basis recommendation of the Nomination and Remuneration Committee. Further it is being informed that Mr. Sunil Chandiramani, has stepped down from the position of Independent Non-Executive Director of the company with effect from the close of business hours of 3 June 2021.