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| Exchange Disseminated Time | Shyam Telecom Ltd has informed BSE that the Board of Directors of the Company at their meeting held on January 29, 2005, has given the approval for the following subject to the approval of the institutions/lenders of the Companies and of High Court of Jurisdiction involved in the restructuring exercise:
1. Amalgamation of Shyam Telecom Manufacturing Ltd (wholly owned subsidiary of the Company doing the Manufacturing business and unlisted) into the Company.
2. Reorganisation of capital structure and realignment of investments of the Company with a view to have separate listed entities for manufacturing and services.
3. To enable the shareholders of the Company to become the Shareholders of Shyam Telelink Ltd in the process of listing of the Shyam Telelink Ltd.
The Scheme is under preparation and Finance Committee has been authorized to get the Scheme devised to effect the above and shall seek approval from the Board of Directors of the Company which will meet again on February 12, to consider the final scheme. |
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