Corporate Announcement
Security Code : 509243    Company : TVSSRICHAK    
 
Updates on Outcome of Board Meeting 
  Exchange Disseminated Time     07/02/2016 17:35:08
TVS Srichakra Ltd has informed BSE that the Company proposes to sell its entire shareholding of 33,25,000 shares held in TVS Europe Distribution Limited a subsidiary of TSL in favour of TVS Automobile Solutions Limited.

The Company also proposes to purchase / acquire 15,89,699 Compulsory Convertible Preference Shares (CCPS) in TVS Automobile Solutions Limited (TVS ASL) amounting to Rs. 40 crores.

The Board of Directors of the Company at their meeting held on February 06, 2016 had approved the sale of equity shares in TVS EDL and purchase of CCPS in TVS ASL.
 

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