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| Exchange Disseminated Time | Onelife Capital Advisors Ltd (OCAL) has informed BSE that the Board of Directors of the Company at its meeting held on March 02, 2012, inter alai, have taken the following decisions :
1. OCAL in its board meet on March 02, 2012, considered the offer presented by the promoters of the company to acquire their entire shareholdings in Goodyield Farming Limited ("GFL") into the company subject to satisfactory independent due diligence of the acquiring Company and further subject to all regulatory and statutory approvals and clearances. This offer by the promoters is ad-hoc, irreversible and is meant to protect the non-promoter shareholders interest in the Company. The acquisition is proposed to be done at a token total nominal cost of Re. 1 purely to ensure business continuity at OCAL. The board has constituted a Committee consisting of three directors to specifically look into all aspects of the said acquisition subject to and in compliance with explicit approval by SEBI and other regulatory and statutory authorities. GFL is a contract farming company based out of western India and had a revenue of Rs 67.21 Crores and PAT of Rs 8.67 Crores for FY11. GFL has a subsidiary Company by the name of Goodyield Fertilizers and Pesticides Private Limited ("GFPPL"). GFPPL had a revenue of Rs 43.24 Crores and PAT of Rs 3.05 Crores for FY11. |
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