Asian Electronics Board approves Stock Split

Asian Electronics Ltd has announced that the Board of Directors of the Company at its meeting held on July 05, 2007, inter alia, has taken following decisions:

1. The Board of Directors has approved the takeover of Green Hydrocarbons India Pvt Ltd engaged in the business of "waste to energy" and Operation Division of U.S. Instruments Pvt Ltd under a Scheme of Arrangement pursuant to Section 391 to 394 of the Companies Act, 1956.

The Board has appointed M/s. Thingna & Contractor, Chartered Accountants as the valuers to determine the swap ratio for amalgamation.

The Board has also appointed Mott MacDonald as the technical expert for the purpose of assisting the valuers while determining the swap ratio.

2. The Board has also approved a Joint Venture Agreement with Cimelin Ltd., a 100% subsidiary of Enviro Hub Ltd, a Singapore Stock Exchange Listed Company to pursue a business of waste to energy in Singapore and eight other countries.

3. The Board also approved sub-division of its Equity Share of Rs 10/- each into 2 Shares of Rs 5/- each.

Source : Equity Bulls

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