15th-Feb-2012 11:22Source: NSE

Allcargo Logistics Limited

Allcargo Logistics Limited has informed the Exchange that the Board of Directors of the Company at its meeting held on February 14, 2012, inter alia, has approved the following: (1) Approved the De-Merger of the Project Division of MHTC Logistics Pvt. Ltd the wholly owned subsidiary of the Company, in favour of the Company with effect from April 01 2012 ("Appointed Date"); (2) Discussed the De-Merger of the Non Vessel Operating Common Carrier (NVOCC) Business of the Company and constituted a Committee of Directors to advise the Board of Directors on determination of the valuation of the NVOCC Business, suggest Share Entitlement Ratio, formulation of the Scheme of Arrangement and matters incidental or related thereto; (3) Approved Notice of Postal Ballot to seek approval of the Members Company for appointment of persons holding place of profit u/s 314 Companies Act, 1956.