Board of Avantel to consider scheme of amalgamation

On 17 December 2016

Avantel announced that a meeting of Board of Directors of the Company will be held on 17 December 2016, inter alia for transacting the following businesses:

1. To consider and approve the Postal Ballot and E-voting Notice for obtaining the approval of the Shareholders of the Company to the Scheme of Amalgamation between and Avantel and Wiki Kids and their respective Shareholders and Creditors through voting by Postal Ballot and E-voting.

2. To consider the appointment of MB Suneel, Practising Company Secretary, to act as the Scrutinizer for the Postal Ballot and E-voting Process.

3. To approve holding of the court convened meeting of the shareholders of the Company for obtaining the approval of the Shareholders of the Company to the Scheme of Amalgamation between and Avantel and Wiki Kids and their respective Shareholders and Creditors ("Scheme") on 27 January 2017, at 11.00 A.M. at the registered office of the Company situated at Sy No.141, Plot No.47/P, APIIC Industrial Park, Gambheeram (V), Anandapuram (M), Vishakhapatnam - 531163, Andhra Pradesh, India, as directed by the Hon'ble High Court at Hyderabad.

4. To consider and approve the Notice of the Court Convened Meeting.

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