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| Exchange Disseminated Time | Sicagen India Ltd has informed BSE that the members of the Company will consider to approve by way of Postal Ballot the following Resolution relating to acquire by way of subscription, purchase or otherwise the shares / securities of M/s. Wilson Cables Pvt. Ltd; Singapore for a total consideration not exceeding Rs.50 Crores (Rupees Fifty Crores Only) over and above the aggregate Of existing loans, investments so far made and the amounts for which guarantee or security given or provided if any by the Company including the previous loans, investments made arid the amounts for which guarantees or securities given or provided by the transferor Company viz., Sical Logistics Ltd and having been transferred to and/or vested with the Company under the earlier Scheme of Arrangement (Demerger) as sanctioned by the Hon’ble High Court of Judicature at Madras vide its order dated December 20, 2007, subject to necessary provisions & approvals.
The Board of Directors has appointed Mr. R Kannan, Practicing Company Secretary as the Scrutinizer for conducting the Postal Ballot process in a fair and transparent manner.
The Postal Ballot form duly completed should reach the scrutinizer on or before November 27, 2010. The scrutinizer will submit his report to the Chairman after completion of the scrutiny and the results of the postal ballot will be announced by the Chairman on December 02, 2010. |
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