News about Spentex Industries Limited
June 25th, 2007
NSE Press Release
The media had reports that Spentex Industries Ltd may acquire a European yarn and threads company for Euro 30-40 million.
The Exchange, in order to verify the accuracy or otherwise of the information reported in the media and to inform the market place so that the interest of the investors is safeguarded, had written to the officials of the company.
Spentex Industries Ltd has vide its letter inter-alia stated,”We are still in the process of evaluating the acquisition opportunity and hope to reach an agreement soon. We are hoping to get this agreement in-principally finalized by June 30th and are having a Board meeting on June 30th to evaluate the opportunity and ask an approval from the Board. We will inform the Exchange as soon as an agreement is reached and Board approval is obtained.”
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