Mefcom Agro Industries Board approves hike in FII limit to 49%

Mefcom Agro Industries Ltd has announced that the Board of Directors of the Company at its meeting held on December 04, 2006, has considered & approved the following:

1. The limit on investment by Foreign Institution Investors (FII) in the Equity Share Capital of the Company be hiked to 49% of the Paid-up share capital of the Company.

2. The proposal of amalgamation of the similar synergy Companies, subject to approval of the members of the Company and following the procedure/instructions of the Hon’ble High Court, as may be directed for the proposed Scheme of Amalgamation.

Source : Equity Bulls

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