Sulzer India Board Meeting on October 07, 2006 to buy-back remaining equity shares

Sulzer India Ltd has informed BSE that a meeting of the Board of Directors of the Company will be held on October 07, 2006 to consider the following proposal from Sulzer Ltd, Switzerland, a 79.99% shareholder of the Company:

1. Intention to acquire the remaining equity shares of the Company through an offer in accordance with the Securities and Exchange Board of India (Delisting of Securities) Guidelines, 2003 ("Guidelines"), subject to all statutory and regulatory approvals being obtained, and

2. Intention to voluntarily delist the equity shares of the Company from all the stock exchanges in India where the securities of the Company are listed in accordance with the Guidelines.

Sulzer Ltd has also formally requisitioned the convening of an Extraordinary General Meeting (EGM) of the Company.

Source : Equity Bulls

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