At meeting held on 30 September 2015
Surana Telecom and Power announced that the Board of Directors of the Company at its meeting held on 30 September 2015, inter alia, has transacted the following:1. Discussed the draft Scheme of Arrangement and approved in principle for merger of solar business of Bhagyanagar India with Surana Telecom and Power, the exchange ratio and other details are being worked out for finalization of the Scheme of Arrangement and exchange ratio.
2. On effectiveness of the scheme, Surana Telecom and Power to issue shares to the existing shareholders of Bhagyanagar India, subject to the approval of the shareholders & the regulatory authorities.
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