|
| Exchange Disseminated Time 14/11/2015 16:59:38 | Simplex Infrastructures Ltd has informed BSE that Simplex Infra Development Limited (SIDL), a subsidiary of the Company, will purchase 49,00,000 Equity Shares of Maa Durga Expressways Private Limited (MDEPL) having a face value of Rs. 10 each and constituting 49% of the total share capital of MDEPL, for a total consideration of Rs. 4,90,00,000/-, from Gammon Infrastructure Projects Limited (GIPL). The Company currently holds 51% of the share capital of MDEPL. The transaction will be carried out in one or more (ranches, pursuant to the termination agreement between MDEPL, GIPL and the Company.
Vijayawada Gundugolanu Road Project Private Limited (VGRPPL), a subsidiary of GIPL, will refund the entire share application money of Rs. 4,90,00,000 (Rupees four crores ninety lacs only) paid by SIDL pursuant to the terminatio Agreement between VGRPPL, GIPL and the Company. |
|
|