Astral Poly Technik Acquires Rex Polyextrusion
Astral Poly Technik Limited ("The Company") has informed that the board of directors of the company at its meeting approved the followings:
1. Acquisition of 51% equity share capital of Rex Polyextrusion Private Limited by cash.
2. Amalgamation of Rex Polyextrusion Private Limited with the Company. The Company shall issue its equity shares in exchange for the remaining 49% equity shares of Rex Polyextrusion Private Limited under the Scheme of Amalgamation. The Board of Directors also approved the draft Scheme of Amalgamation, Valuation Report and other relevant documents in relation to the Scheme of Amalgamation. The Scheme is subject to applicable statutory and regulatory approvals including approval of the National Company Law Tribunal.