Greenply Industries Limited - Clarification

21 Feb 2022 , 12:00 AM

Greenply Industries Limited with respect to announcement dated 14-Feb-2022, regarding? approval of appointment of internal auditor and setting up of new manufacturing unit in? Board meeting held on February 14, 2022.On basis of above the Company is required to clarify following: 1. Brief profile (in case of appointment) 2. Name of the target entity, details in brief such as size, turnover etc; 3. Whether the acquisition would fall within related party transactions and whether the promoter/ promoter group/ group companies have any interest in the entity being acquired? If yes, nature of interest and details thereof and whether the same is done at arms length; 4. Industry to which the entity being acquired belongs; 5. Objects and effects of acquisition (including but not limited to, disclosure of reasons for acquisition of target entity, if its business is outside the main line of business of the listed entity); 6. Brief details of any governmental or regulatory approvals required for the acquisition; 7. Indicative time period for completion of the acquisition; 8. Nature of consideration – whether cash consideration or share swap and details of the same; 9. Brief background about the entity acquired in terms of products/line of business acquired, date of incorporation, history of last 3 years turnover, country in which the acquired entity has presence and any other significant information (in brief). The response of the Company is awaited.