At meeting held on 26 August 2014
Prudential Sugar Corporation announced that the Board of Directors of the Company at its meeting held on 26 August 2014, inter alia, has considered the following:- The Board has deliberated the strategy of the Company to reconstruct and restructure the business operations and finances of the Company and resolved that the Company shall approach shareholders of the Company by way of postal ballot for obtaining their consent under Section 180 (1) (a) of the Companies' Act 2013 for fully / partially disposing and / or transferring the sugar business of the Company, on going concern basis, to a prospective investor or to a Special Purpose Vehicle (SPV) to be created for the purpose in which the prospective investor has equity stake along with the Company.
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