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| Exchange Disseminated Time | Capri Global Capital Ltd has informed BSE that the Board of Directors of the Company at its meeting held on December 17, 2014, inter alia, has approved:
1. Merger of four wholly owned subsidiary companies with the Company and approved the following:
i. The Scheme of Amalgamation of Capri Global Distribution Company Private Limited (Transferor Company No.1) and Capri Global Finance Private Limited (Transferor Company No.2) and Capri Global Investment Advisors Private Limited (Transferor Company No.3) and Capri Global Research Private Limited (Transferor Company No.4) with Capri Global Capital Limited (Transferee Company) and their Respective Shareholders and Creditors under sections 391 to 394 and any other applicable provisions of the Companies Act, 1956 and Companies Act, 2013 (to the extent notified and applicable) ('The Scheme').
ii. The Appointed Date for the merger shall be April 01, 2015.
iii. Entire paid-up equity share capital of Transferor Company No.1, Transferor Company No.2, Transferor Company No.3 and Transferor Company No.4 is wholly owned by Transferee Company hence, no consideration would be issued pursuant to the merger.
iv. The Scheme is subject to requisite consent of the Hon'ble High Court of Judicature at Bombay, the permission or approval of the Central Government or any other statutory or regulatory authorities or institution(s), which by law may be necessary for the implementation of the Scheme.
v. Appointed BSE Limited as the Designated Stock Exchange for the purpose of coordinating with SEBI with regards to the Scheme.
2. Investment in a Joint venture abroad.
The Board of Directors of the Company provided their in-principal approval to have Joint Venture with Noor Capital PSC.
Noor Capital PSC ('Noor Capital') is an established investment house in the UAE region and is licensed and regulated by the UAE Central bank. It has paid- up capital of AED 360 Mn (equivalent to Rs. 612 Crs). It was established in the year 2005 and has successfully grown its portfolio in the last 9 years. Its main areas of operations are private equity, real estate investments & developments, hospitality & education sector. Noor Capital follows a broad financial strategy with special emphasis in general on Gulf Council Countries (GCC), Middle East and North Africa markets.
3. Reappointment of Mr. Sunil Kapoor, Executive Director, whose term in office expires on January 23, 2015.
Board approved re-appointment of Mr. Sunil Kapoor as Executive Director for a term of 1 (one) year effective from January 24, 2015.
The above is for your information & record and for further dissemination to all the stakeholders. |
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