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Apollo Tyres Ltd reply to clarification sought by the exchange

| Updated on May 19, 2015 Published on May 19, 2015

The Exchange had sought clarification from Apollo Tyres Ltd with respect to news article appearing in Business Line on May 17, 2015 titled "Apollo Tyres plans to set up unit in Malaysia."

Apollo Tyres Ltd replied stating "In this regard, please note our response as below:

"The company is studying the market potential in Malaysia currently, to set up a Sales Unit, as part of its normal course of business. As the company continues to manage the sales in Malaysia through its Thailand-based step subsidiary, a decision on the establishment of the Sales Unit, if at all, would be taken post the study is completed.

Presently, there is no occurrence of any event, which has reached the stage which would trigger Clause 36 of the Listing Agreement.

We would, as in the past, promptly inform the stock exchanges and the shareholders about any material development and/or about any event or information which may have a bearing on the performance/operations of the Company as well as price sensitive information as per the regulatory requirements under Clause 36 of the Listing Agreement."

Source : BSE - >www.bseindia.com

Published on May 19, 2015
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