At board meeting held on 16 December 2015
Swelect Energy Systems announced that the Board of Directors of the Company at its meeting held on 16 December 2015, has transacted the following :1. As recommended by the Audit Committee, the Board of Directors has considered and approved the Scheme of Amalgamation of HHV Solar Technologies (a wholly owned subsidiary of SWELECT Energy Systems) into SWELECT Energy Systems with Appointed Date as 01 April 2015. It is pertinent to note that there will be no change in the capital structure of any of the Companies given that there will not be share issue pursuant to the merger as HHV Solar Technologies is wholly owned by SWELECT Energy Systems.
2. The Board also considered and approved the Scheme of Amalgamation of the wholly owned subsidiary Companies namely Amex Irons with Amex Alloys.
Powered by Capital Market - Live News
