Outcome of Board Meeting

Updated on: Feb 11, 2011

PTL Enterprises Ltd has informed BSE that the Board of Directors of the Company at its meeting held on February 11, 2011, subject to the necessary approval(s) by the shareholders and Honble High Courts, have approved a proposal to merge Artemis Health Sciences Ltd. ("AHSL") and Artemis Medicare Services Ltd. ("AMSL") with the Company. Whereas, AHSL. is a wholly owned subsidiary of the Company and AMSL is a wholly owned subsidiary of AHSL. which runs the Artemis Health Institute (a 250 beds hospital at Gurgaon). The merger would be implemented in terms of the provisions of section 391 and 394 of the Companies Act. 1956. The Board has also constituted a committee of Directors for taking necessary steps in this regard.

Source : BSE - >www.bseindia.com

Published on February 11, 2011

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