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| Exchange Received Time 22/11/2017 15:03:02 Exchange Disseminated Time 22/11/2017 15:03:08 Time Taken 00:00:06 | The Board of Action Construction Equipment Limited(ACE) at their meeting held on 11.11.2017 have approved the Scheme of Amalgamation between Frested Limited, ACE and their respective shareholders and creditors under provisions of the Companies Act, 2013 and Mauritius Act, 2001.
In accordance with Clause 7 of SEBI Circular CFD/DIL3/CIR/2017/21 dated 10.03.2017 the provisions of SEBI Circular CFD/DIL3/CIR/2017/21 dated March 10, 2017 shall not be applicable to schemes which solely provides for merger of a wholly owned subsidiary with the parent company. Therefore, since Frested Limited is a wholly owned subsidiary of ACE, which is merging with ACE, the provisions of the above mentioned circular shall not be applicable to the merger.
In accordance with the provisions of SEBI Circular CFD/DIL3/CIR/2017/21 dated March 10, 2017, the documents are being filed: |
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