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Joint Venture partnership established in HNG Float Glass Ltd (HNGFL) between the existing Promoters (HNGIL and Somany Family) and Trakya Cam Sanayii AS of Turkey

| Updated on June 12, 2013 Published on June 12, 2013

Hindusthan National Glass & Industries Ltd has informed BSE that Hindusthan National Glass & Industries Ltd ("HNGIL") and other promoters of HNG Float Glass Limited ("HNGFL") had signed a joint Venture Aggreement ("JVA") with M/ s.Trakya Cam Sanayii AS ("Trakya") of Turkey with the intention of juintly pursuing and developing under HNGFL, the float glass manufacturing business in India.

The company futher please to inform that the Company, along with other parties of JVA, have complied with the relevant terms and conditions of the said JVA and successfully consummated the transaction June 11, 2013.

Accordingly, HNGlL has June 11, 2013, sold and transferred to Trakya 5,86,26,995 Equity Shares of HNGFL having face value of Rs.10/- each (out of its total shareholding of 11,50,00,000 equity shares in HNGFL). wiith this transfer, the
shareholding of HNGIL in HNGFL, as on date, stands diluted from 47.4% to 18.31%

Source : BSE - >www.bseindia.com

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Published on June 12, 2013
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