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| Exchange Disseminated Time 08/12/2015 17:52:24 | Avanti Feeds Ltd has informed BSE that a meeting of the Board of Directors of the Company will be held on December 18, 2015, inter alia, to consider the following:
1. Approval of Business Transfer Agreement (BTA), in connection with transfer of Shrimp Processing Business to Avanti Frozen Foods Private Limited (a wholly owned subsidiary of Avanti Feeds Limited), to be effective from November 01, 2015, at a slump sale value of Rs. 128.00 crores.
(the Members of the Company approved the transfer of Shrimp Business of the Company to Avanti Frozen Foods Private Limited by way of slump sale which shall not be lower than the net book value of assets and liabilities by a Special Resolution through Postal Ballot, the results of which were declared on October 26, 2015).
2. To consider subscription of 60,00,000 equity shares of Rs. 10/- each a premium of Rs. 131/- per equity share, aggregating to Rs. 84.60 crores in connection with the Rights Issue made by Avanti Frozen Foods Private Limited. |
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