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Corporate Announcement

Security Code : 519479    Company : OMEAG    
 
Outcome of Board Meeting 25 Mar 2013 09:01
Omega Ag-Seeds Punjab Ltd has informed BSE that the Board of Directors of the Company at its meeting held on March 23, 2013, has considered and approved the following business:

1. The Board considered and approved acquisition of balance 75% stake (25% stake having been acquired in terms of the resolution passed at the Board meeting held on December 15, 2011) in Gayatri Sea Foods and Feeds Private Limited so as to make it a wholly owned subsidiary of Omega Ag Seeds Punjab Ltd. This acquisition will make the Company a sizeable player in agri and aqua segments which has a good potential for Growth. The Board also decided to authorise the managing director Shri. NVR Mohan Rao to make negotiations and take all necessary steps for facilitating the proposed acquisition.

2. The Board also approved investment in the Subsidiary of the Company for funding the growth plans of the Company through this acquisition and diversification programme as assessed by the Board of Directors from time to time.
 

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