ELF Trading & Chemicals Manufacturing Ltd has informed BSE that the Board of Directors of the Company at its meeting held on February 01, 2016, inter alia, has discussed the following matters:
- Delisting Proposal:
The Company has received a proposal from the promoter group of the Company (Acquirers/ 'Promoters') to voluntarily delist the Companys equity shares (Equity Shares) from the stock exchange on which they are presently listed, being the BSE Limited (BSE), in accordance with the Securities and Exchange Board of India (Delisting of Equity shares) Regulations. 2009 as amended (Delisting Regulations') by making an offer in the public shareholders of the Company in terms of the Delisting Regulations and acquire all the outstanding equity shares held by the public Shareholders of the Company ('Delisting Proposal').
The Board of Directors discussed the Delisting Proposal and has taken following decisions:
i. Taken on record, the letter dated 19th January, 2016 received from Mr. Rupen Ashwin Choksi on behalf of the promoter group informing the Company about the aforementioned Delisting Proposal.
ii. Appointed Keynote Corporate Services Limited as Merchant Bankers lo conduct due diligence and submit report in accordance with sub regulation (1A)(ii),(1D) and (1E) of Regulation 8 of Delisting Regulations.
iii. To consider the Delisting Proposal for approval in the board meeting to be held based on the report to be submitted as above.
iv. Appointed M/s. M. Baldeva Associates, Company Secretaries as Scrutinizer for the purpose of Delisting.
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