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| Exchange Disseminated Time | Manaksia Ltd has informed BSE about the Company has entered into a Share Purchase Agreement with Aura Chem Private Limited (AURA) for sale of 100% Equity Shares in Solex Chemicals Private Limited (SOLEX), a wholly owned subsidiary Company at an aggregate consideration of US$1.50 million. The transfer of shares by the Company to AURA and consideration in lieu thereof, would be completed In three trenches as follows:
Particulars - First Trench - 5100 Equity Shares of Rs 10 each (Being 51% of the Holding in Solex)
Amount of Consideration (US $ in Million) - 0.765
Particulars - Second Trench - 2300 Equity Shares of Rs 10 each (Being 23% of the Holding in Solex)
Amount of Consideration (US $ in Million) - 0.345
Particulars - Third Trench - 2100 Equity Shares of Rs 10 each (Being 26% of the Holding in Solex)
Amount of Consideration (US $ in Million) - 0.390
The First trench of US$ 0.765 million has been received on August 17, 2011 and with the transfer of shares, SOLEX cease to be a wholly owned subsidiary Company of Manaksia Ltd. |
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