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| Exchange Received Time 18/12/2017 18:24:40 Exchange Disseminated Time 18/12/2017 18:24:46 Time Taken 00:00:06 | With reference to the above, please note that the purchase of shares as contemplated under the Share Purchase Agreements entered into by Technomet International FZE, the Wholly Owned Subsidiary of the Company, with:
(a) Sumire International Ltd., for purchase of 99.9999% shares of Federated Steel Mills Limited
(b) In-Profit Investments Ltd., for purchase of 99.9999% shares of Far East Steel Industries Limited,
intimated vide our letters on 23.08.2017 and 22.11.2017 respectively, have been given effect to by way of necessary transfer of shares, pursuant to the conditions laid under the Share Purchase Agreements as referred in the aforesaid letters.
Accordingly, the transactions as contemplated under the Share Purchase Agreements are complete.
This may be treated as compliance under relevant Regulation of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. |
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