Arora Fibres informs about outcome of board meeting

20 Nov 2015 Evaluate

Arora Fibres has informed that the Board of Directors of the Company at its meeting held on November 20, 2015, has considered and taken on record the Due Diligence Report submitted by Systematix Corporate Services (the Merchant Banker), dated November 19, 2015, in accordance with Regulation 8(1E) of the SEBI (Delisting of Equity Shares) Regulations, 2009, as amended (the Delisting Regulations). The Board of Directors has approved the proposed voluntary delisting of equity shares of the Company from BSE as offered by the Acquirer and also decided that the said voluntary delisting proposal be communicated and recommended for approval of the shareholders of the Company through Postal Ballot process as required under the Delisting Regulations. The Acquirer vide letter dated November 19, 2015 has intimated the Floor Price of Rs10 per equity shares for the proposed Delisting Proposal and the same has been taken on record.

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

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