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| Exchange Disseminated Time | Punjab Chemicals & Crop Protection Ltd has informed BSE that the Board of Directors of the Company at its meeting held on July 18, 2013, have considered and approved the following:
1. To sell, transfer or dispose off the Agro Formulation Division of the Company (the 'Undertaking') comprising of all fixed assets located at Nandesari, Vadodara, Lote Parshuram and Flat at Vadodara to Coromandel Agrico Private Limited by way of slump sale, subject to the approval of the shareholders, regulatory authorities and lenders.
Candle Partners is the exclusive financial advisors and Phoenix Legal is the legal advisors to the Company on this transaction.
2. To sell, convey, transfer, deliver or dispose off the business conducted at Pune Unit of Industrial Chemicals Division of the Company, alongwith or without rights of the Company as may be feasible or possible, either on a going concern basis or in parts or otherwise, including assets, title, interest and obligations, subject to the approval of the shareholders, regulatory authorities and hmders and on the terms and conditions and consideration amount as may be finalised by the Board of Directors of the Company.
3. The notice of Postal Ballot for seeking authorization from the shareholders of the Company by way of ordinary resolutions for sale/ disposal of the above. |
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