Corporate News     05-Jan-10
Sat Industries to hold board meeting
On 11 January 2010
The board meeting of Sat Industries will be held on 11 January 2010 for considering the proposal to restructure the company under the scheme of arrangement and to approve the draft scheme of the arrangement, for this purpose.

The company is, at present, holding equity shares in Sah Polymers (SPL), which is in business of manufacturing and selling of PP/IIDPE Packing Material / Woven Sacks. It has been felt that it is better to have direct shareholding by the shareholders in SPL and hence, through the scheme of arrangement, the company is planning to transfer its entire holding in SPL to the shareholders of the company. It is also proposed to list shares of Sah Polymers on stock exchanges in India to provide liquidity to the shareholders of the company.

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