Pioneer Embroideries has informed that the Board of Directors of the Company at its meeting held today 29th July, 2022 through video conferencing or other audio video mode, to transact the following business: Intimation under SEBI (Listing Obligation & Disclosure Requirements) Regulations,2015. Pursuant to Regulation 30 of the SEBI (Listing Obligation & Disclosure Requirements) Regulations, 2015 Board has considered and approved the following: Closure of Company's labour Intensive Embroidery unit at Coimbatore with effect from 31st July, 2022 and Sale of Coimbatore unit assets, with proceeds being utilised for the proposed modem, greenfield manufacturing facility. The meeting of the Board of Directors of the Company commenced at 10.00 am and concluded at 10.30 am. Press Release is also enclosed.
The above information is a part of company’s filings submitted to BSE.
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