get answers »
[2008-05-27] G I D C-Approval of restructuring scheme Following the Cautionary Announcement issued by the Company on 1st April 2008, the Board is pleased to announce that it has approved the restructuring scheme at its sitting on 26th May 2008. Consequently, relevant documentations will be submitted to the regulatory authorities and thereafter, if approved, shareholders will be convened at a special meeting to approve “The Transaction” at latest by the end of July 2008. It is presently estimated that the Group will realize a profit on disposal of some Rs 400M. Shareholders will be kept informed of future developments. The shareholders and the investing public are therefore advised to exercise caution when dealing in the shares of the Company. By order of the Board Julien Hoareau For ESPITALIER NOEL LTD Secretaries 26 May 2008Source: © 2003 Associated Brokers Ltd.