Ganges Securities - Reply to Clarification Sought
28/11/2019 17:35
GANGESSECU: The Exchange had sought clarification from Ganges Securities Limited with respect to announcement dated 06-Nov-2019, regarding Board meeting held on November 06, 2019. On basis of above the Company was required to clarify following: 1. Name of the entity (ies) forming part of the amalgamation/merger, details in brief such as, size, turnover etc.; 2. Whether the transaction would fall within related party transactions? If yes, whether the same is done at "arm's length"; 3. Area of business of the entity (ies); 4. Rationale for amalgamation/ merger; 5. In case of cash consideration amount or otherwise share entitlement/exchange ratio; 6. Brief details of change in shareholding pattern (if any) of listed entity. The response of the Company is attached.