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VHCL Industries informs about Board Meeting

15 Jun 2015 Evaluate

VHCL Industries has informed that a meeting of the Board of Directors of the Company will be held on June 23, 2015, to transact that the company has received interest from Max Apex, Hong Kong in taking an equity position in the Company to the extent of Rs. 50 crore. After due diligence and negotiation they have expressed their interest to invest in the plastic division only. The board has been presented with a proposal to demerge the plastic division into a separate listed entity in order to facilitate the investment. The board will consider this proposal, and if found fit approve it in order to unlock stakeholder value in the Company.

The above information is a part of company’s filings submitted to BSE.

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