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| Exchange Disseminated Time | Gujarat Apollo Industries Ltd has informed BSE that the Board of Directors of the Company at its meeting held on January 16, 2013, inter alia as follows:
1. The Board of Directors of the Company has approved draft Postal Ballot Notice for passing Resolution u/s 293(1) (a) of the Companies Act, 1956 for transfer, sale,and/or otherwise dispose of the entire product portfolio of asphalt plant business as a "going concern" on a slump sale basis to Apollo Construction Equipment Limited.
2. The Board of Directors has taken on record the Valuation Reports given by Independent valuer.
3. The Board of Directors of the Company has taken on record the transaction through which Apollo Construction Equipments Limited has become direct subsidiary of Apollo Earthmovers Limited and fellow subsidiary of Gujarat Apollo Industries Ltd. |
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