At meeting held on 29 March 2016
Gloster announced that the Board of Directors of the Company at its meeting held on 29 March 2016, has considered and approved the proposal of the amalgamation of Gloster with Kettlewell Bullen & Company ("Kettlewell") with effect from 01 January 2015 in terms of a draft Scheme of Amalgamation tabled before the Board under Sections 391-394, of the Companies Act, 1956 or under Section 230-234 of the Companies Act, 2013 and other applicable provisions, if any, of the Companies Act, 1956 and/or Companies Act, 2013 ("Scheme").The Board of Directors of Kettlewell has also in their Board meeting held on 29 March 2016, approved the said Scheme. The Scheme shall be subject to the approval of the Stock Exchange, shareholders and the Hon'ble High Court of Calcutta and other authorities as may be required under applicable law.
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