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| Exchange Disseminated Time | BPL Ltd has informed BSE that the Board of Directors of the Company at its meeting held on April 02, 2007, has approved the following:
1. Transfer the Printed Circuit Board (PCB) Business of the Company and lease certain specified plant and machinery and immovable assets consisting primarily of land, buildings and all civil works connected with the PCB Business for a period of 60 months, to a proposed Joint Venture Company, subject to the approval of the members, lenders and regulatory authorities as may be necessary.
2. To invest in the equity share capital of the proposed Joint Venture, subject to the approval of the members, lenders and regulatory authorities, if any.
3. Issue of upto 15,00,000 equity shares on preferential issue basis as per SEBI Guidelines for Preferential Issues to M/s. Electro Investment Pvt Ltd.
4. Approval of the shareholders would be sought through postal ballot seeking their approvals for the above proposals, for which the Board has appointed Mr. P Sivarajan, Chartered Accountant as the Scrutinizer. |
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