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| Exchange Disseminated Time | | With reference to the earlier letter dated October 11, 2014 communicating the approval of the board of directors of the Company for a voluntary delisting proposal from its promoter, Essar Shipping & Logistics Limited (“ESLL") seeking to delist the equity shares of the Company (the “Delisting Proposal") in accordance with the Securities and Exchange Board of India (Delisting of Equity Shares) Regulations, 2009 (“SEBI Delisting Regulations"), Essar Shipping Ltd has now informed BSE that the Company has received a certificate computing the floor price for the Delisting Proposal which has been issued by MZSK & Associates, engaged by ESLL in this regard, on October 16, 2014. Based on the certificate, ESLL has informed the Company that, in accordance with Regulation 15(2) of the SEBI Delisting Regulations, a floor price of Rs. 20.76 (Rupees Twenty and Seventy Six Paisa) has been set for the Delisting Proposal. |
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