Haryana Texprints (Overseas): Outcome of Board Meeting (Delisting)

Haryana Texprints (Overseas) Ltd has informed BSE that the Board of Directors of the Company at its meeting held on June 30, 2016, has taken the following decisions.

1. Taken on record the Due Diligence Report dated June 27, 2016 submitted by M/s. Sobhgya Capital Options Limited, the merchant banker appointed by the Board in this regard.

2. To grant approval of the Board in accordance with Regulation 8(1)(a) of the Delisting Regulations, to voluntary delist the equity shares of the Company from the BSE Limited, the only stock exchange where the shares of the Company are presently listed, after having discussed and considered various factors and due diligence report of merchant banker submitted to the Board in this regard.

3. Based on the information available with the Company and after taken on record the undertakings/confirmation from promoters, the Board of Directors of the Company have Certified in accordance with Regulation 8(1B) of Delisting Regulations that:

a) The company is in compliance with applicable provisions of securities law.

b) The acquirer or promoter or promoter group or their related entities are in compliance with sub-regulation (5) of Regulation 4 of Delisting Regulations.

c) The delisting is in interest of the shareholders, since the shares of the company are infrequently traded and the said delisting offer will provide a liquidity opportunity to the public shareholders of the company.

4. The Board of Directors have also taken in to account the due diligence report of merchant banker M/s Sobhgya Capital Options Limited submitted to the Board in this regard while considering and granting delisting approval.

5. The Board have also approved the notice of postal ballot in order to take the approval of public shareholders by way of postal ballot in accordance with Regulation 8(1)(b) of Delisting Regulation and in accordance with the provisions of section 110 of the Companies Act, 2013 read with Rule 22 of the Companies (Management and Administration) Rules, 2014.

The meeting commenced at 4.00 P.M. and concluded at 5.15 P.M.