Outcome of Board Meeting

| Updated on January 28, 2014 Published on January 28, 2014

High Street Filatex Ltd has informed BSE that the Board of Directors of the Company at its meeting held on January 28, 2014, inter alia, has discussed and approved the following:

1. Considered and approved the Scheme of arrangement under the provisions of Section 391-394 of the Companies Act, 1956 for the merger of High Street Filatex Limited (Transferor Company) with High Street Fashions Limited (Transferee Company) subject to requisite approval being taken from Stock exchanges, Securities and Exchange Board of India (SEBI), Shareholders, Creditors and Hon’ble Jurisdiction of High Court, Jaipur, Rajasthan.

2. Considered and taken on record the “Valuation Report” obtained from M/s. P. C. Modi & Co., Chartered Accountants and “Fairness Opinion Report on the share swap ratio” obtained from M/s. D & A Financial Services Pvt. Ltd., SEBI registered merchant banker.

Source : BSE - >www.bseindia.com

Published on January 28, 2014
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