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Arora Fibres Ltd.

BSE: 521174 Sector: Industrials
NSE: N.A. ISIN Code: INE487D01023
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Outcome of Board Meeting (Delisting of Equity Shares)

November 20, 2015, 3:02 pm | Source: BSE | Downlaod PDFDownload PDF

Arora Fibres Ltd has informed BSE that the Board of Directors of the Company at its meeting held on November 20 2015 has considered and taken on record the Due Diligence Report submitted by Systematix Corporate Services Limited (the Merchant Banker) dated November 19 2015 in accordance with Regulation 8(1E) of the SEBI (Delisting of Equity Shares) Regulations 2009 as amended (the Delisting Regulations).

The Board of Directors has approved the proposed voluntary delisting of equity shares of the Company from BSE Limited as offered by the Acquirer and also decided that the said voluntary delisting proposal be communicated and recommended for approval of the shareholders of the Company through Postal Ballot process as required under the Delisting Regulations. The Acquirer vide letter dated November 19 2015 has intimated the Floor Price of Rs.10/- (Rupees Ten Only) per equity shares for the proposed Delisting Proposal and the same has been taken on record.