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| Exchange Disseminated Time | Minda Industries Ltd has informed BSE that the Board of Directors of the Company at its meeting held on May 26, 2015 :-
1. Formulation of Insider Trading Code in terms of SEBI (Insider Trading) Regulations, 2015 :
The Board has formulated in accordance with Regulation 8 of Insider Trading Regulations, 2015, the Code of Practice for Fair Disclosure of Unpublished Price Sensitive Information and as per Regulation 9 the Code of Conduct for regulating, monitoring and reporting of trading of shares by Insiders.
The Code of Practices for Fair Disclosure of Unpublished Price Sensitive Information has also been approved. The code will also be available at website of the company.
2. Investments in PT Minda Asean Automotive, Indonesia :
Board of Directors has unanimously approved the additional investments in PT Minda Automotive Asean, Indonesia for 13845 No. of Equity shares (face value of USD 10 each, fully paid up), to be purchased from Minda Investments Ltd. @ Rs.4432.40 per share, based on the Valuation Report of an Independent Valuer, for a total consideration of Rs 613.67 Lacs. The total shareholding of the Company in PT Minda Asean Automotive, Indonesia will go up from 19% to 32%.
3. Investments in Sam Global Pte. Ltd., Singapore :
Board of Directors has unanimously approved the investment in Sam Global Pte. Ltd., Singapore (100% holding of Minda Industries Vietnam Company Ltd.) for purchase of 312500 Nos. of Equity shares from Minda Investment Ltd. and 6250 Nos. of Equity Shares from Singhal Fincap Ltd. (face value of USD 1 each, fully paid up) @ Rs.609.08 per share, based on the valuation report of an Independent Valuer, for a total consideration of Rs. 1941.44 Lacs. With this investment, the Company's shareholding in Sam Global Pte Ltd. will be 51% and accordingly, this company will become subsidiary of the company. |
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