Greenply Industries Limited - Reply to Clarification Sought

29 Aug 2022 , 12:00 AM

The Exchange had sought clarification from Greenply Industries Limited with respect to announcement dated 22-08-2022 regarding Agreements/Contracts/Arrangements/ MOUs PARA A.On the basis of aforesaid disclosure, the Listed entity was required to clarify the following:Acquisition / agreement to acquire1. 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).2. 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;3. Name of the target entity, details in brief such as size, turnover etc;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;The response of the company is attached.