Accel Frontline

NSE Announcements on Accel Frontline

Posted by : MMB Messenger
Price when posted : [Accel Frontline - BSE:Rs. 51.40 NSE:Rs. 53.45 when posted]

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Accel Frontline Limited has informed the Exchange that the Board of Directors of the Company in its meeting held on December 04, 2008, discussed the operations of warranty management services division and its alignment with the Companys core business of IT infrastructure management based on a report submitted by the Committee of independent and non-executive Directors constituted by the Board. Based on the discussions, the Board has decided the following : (1) To hive off its Warranty Management Services Division and merge it with its wholly owned subsidiary company Accel Frontline Services Private Limited (AFSPL). (2) To sell AFSPL as Management buy out MBO to the Management Team of WMS division and Accel Limited, one of the Promoter shareholders for values as determined by independent valuers appointed by the Independent Committee of Board of Directors. (3) Appropriate consent will be obtained from the shareholders....

BSE Announcements on Accel Frontline

Posted by : MMB Messenger
Price when posted : [Accel Frontline - BSE:Rs. 51.40 NSE:Rs. 53.45 when posted]

View full thread (1 messages)

Tracked by: 0 Boarder

Accel Frontline Ltd has informed BSE that the Board of Directors of the Company at its meeting held on December 04, 2008, inter alia, has discussed the operations of warranty management services division and its alignment with the Companys core business of IT Infrastructure management based on a report submitted by the committee of independent and non executive directors constituted by the Board. Based on the discussions, the Board has decided the following:

1. To hive off its Warranty Management Services Division and merge it with its wholly owned subsidiary Company Accel Frontline Services Pvt. Ltd (AFSPL).

2. To sell AFSPL as Management buy Out MBO) to the Management Team of WMS division and Accel Ltd, one of the promoter shareholders for values as determined by independent values appointed by the Independent Committee of Board of Directors.

3. Appropriate consent will be obtained from the shareholders....