Siel Board agrees in principle for merger of Mawana Sugars

Siel Ltd has announced that the Board of Directors of the Company met on November 13, 2006 to consider the amalgamation of Mawana Sugars Ltd (MSL) and the Company.

After detailed deliberation on the subject, the Board has concluded that it is agreeable in principle to the proposal of amalgamation of MSL and the Company. However the Board would like to have additional information for its consideration before giving its final approval at another Board Meeting to be called shortly.

Source : Equity Bulls

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