Solix Technologies Ltd. at its Board of Directors meeting held on May 25, 2012, appointed Mrs. Veena Gundavelli, Director as Managing Director of the company, with effect from May 25, 2012, and accepted resignation of Mr. Sai Gundavelli from the office of Managing Director of the company with effect from May 25, 2012. However, Mr. Sai Gundavelii will continue to be Director of the company.