Inga Management sells 46.21% of Neemtek Organic

Neemtek Organic Products Ltd has announced that the Company have been informed by the promoters of the Company, Inga Management and Investment Pvt Ltd, that they have on April 10, 2007 entered into a Memorandum of Understanding with Ms. Sarayu Somaiya ("Acquirer") by virtue of which 8,46,070 equity shares of Rs 10/- each, representing 46.21 per cent of the capital of the Company, is proposed to be acquired by "Acquirer", subject to fulfilling the conditions laid down in the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers Regulations), 1997, and the Listing Agreement.

Source : Equity Bulls

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