Elecon Engg updates on scheme of arrangement

Elecon Engineering will actively explore various options for fund raising, including issuance or sale of eligible securities of the Company or its subsidiaries, to deleverage its balance sheet & fund further expansion plans of the Company, and thereby improving shareholders value.

April 02, 2013 / 13:09 IST

Elecon Engineering Company Ltd has informed BSE that the certified copy of the order of Hon'ble High Court of Gujarat has been filed with the Registrar of Companies, Ahmedabad, Gujarat on April 01, 2013, and hence the effective date of the Scheme is April 01, 2013.As the Scheme is now effective, in terms of next step towards the restructuring exercise, the Company will actively explore various options for fund raising, including issuance or sale of eligible securities of the Company or its subsidiaries, to deleverage its balance sheet & fund further expansion plans of the Company, and thereby improving shareholders value.Source : BSE

Read all announcements in Elecon Eng

first published: Apr 2, 2013 01:09 pm

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