SHIVTEX

Shiva Texyarn Limited has informed the Exchange regarding Intimation of Capital Reduction process pursuant to Scheme of Arrangement (Demerger) entered between Shiva Texyarn Ltd (Demerged Company) and Shiva Mills Ltd (Resulting Company).

Shiva Texyarn Limited has informed the Exchange that the Demerger and Allotment Committee in their meeting held on October 12, 2017 have decided to extend the period by 45 days for completing the allotment of shares pursuant to Clause 9.2.4 of Scheme of Arrangement entered between Shiva Texyarn Limited and Shiva Mills Limited (formerly STYL Textile Ventures Limited).

Shiva Texyarn Limited has informed the Exchange regarding Update - Scheme of Arrangement - reg.

Shiva Texyarn Limited has submitted to the Exchange a copy of the order of National Company Law Tribunal, Chennai along with Notice.

Shiva Texyarn Limited has informed the Exchange that the Board of Directors of the Company at the meeting held on November 30, 2015 have approved the proposal for demerging the Spinning Unit located at Dindigul, Tamilnadu with a capacity of 39072 Spindles and 22 numbers of windmills relating to the Unit with a capacity of 10.65 MW through a Scheme of Arrangement to be sanctioned through a Court approval process. The appointed date of the Scheme is April 01, 2015.The valuation Report issued by Chartered Accountants - M/s V K S Aiyer & Co, Coimbatore and Fairness Opinion issued by M/s Dalmia Sec