Board of Meghmani Organics approves delisting of SDSs on Singapore Exchange

On 22 May 2017

Meghmani Organics announced that subject to approval of the holders of the Singapore Depository Shares (SDSs), the provisions of the Listing Agreement with Singapore Exchange ('SGX'), the SGX Main Board Rules, Securities Trading Limited, the provisions of the Depository Agreement dated 01 March 2004 with the Central Depository (Pte) and DBS Bank Ltd (the 'Depository Agreement'), Take over code - Singapore, the provisions of Foreign Exchange Management Act, 1999 ('FEMA'), all other applicable provisions of the law, rules, regulations, guidelines, notifications in India and Singapore, and further subject to such terms, conditions, stipulations and modifications as may be prescribed, imposed or suggested by any of them while granting such approvals, the Board of Directors has granted in principle approval for:

(a) delisting of the SDSs listed on SGX;

 

(b) to terminate the Depository Agreement ('DA') , immediately on the expiry or cessation of the time provided to the SDS holders to convert their respective SDSs to equity shares of the Company and act as per DA.'

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