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Swelect Energy Systems: Outcome of board meeting

Swelect Energy Systems: Outcome of board meeting

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Swelect Energy Systems Ltd has informed BSE that the Board of Directors of the Company at its meeting held on December 16, 2015, has transacted the following :1. As recommended by the Audit Committee, the Board of Directors has considered and approved the Scheme of Amalgamation of HHV Solar Technologies Limited  into SWELECT Energy Systems Limited with Appointed Date as April 01, 2015. It is pertinent to note that there will be no change in the capital structure of any of the Companies given that there will not be share issue pursuant to the merger as HHV Solar Technologies Limited is wholly owned by SWELECT Energy Systems Limited.2. The Board also considered and approved the Scheme of Amalgamation of the wholly owned subsidiary Companies namely Amex Irons Private Limited with Amex Alloys Private Limited.

Source: moneycontrol

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Anand Gupta Editor - EQ Int'l Media Network

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