Sturdy Industries To Issue Of Equity Shares - July 31, 2009

The board of Sturdy Industries has considered about issuing equity shares through employees stock option scheme (ESOS) and considered raising of funds from domestic market through issue of securities to qualified institutional buyers.

The board has also considered the sub division of equity share of Rs 10 each into equity share of Rs 2 each and also considered routes available for raising of funds through issue of securities (ADR / GDR) in the international market for funding the expansion plans of the company viz. setting up of Gas based Power Project of 200 MW capacity, Hydro Power Project, Projects for Drip Irrigation Systems and Aluminium conductors.

The board has also considered convening of extra-ordinary general meeting on 28 August 2009. This was decided at the board meeting held on 31 July 2009.

Sturdy Industries' Equity Shareholders & Creditors To Approve Scheme Of Arrangement - June 11, 2008

Pursuant to the order passed by the Hon'ble High Court of Himachal Pradesh at Shimla on 04 June 2008, the separate meetings of the equity shareholders, secured & unsecured creditors of Sturdy Industries will be held on 20 July 2008, for the purpose of considering and, if thought fit, approve with or without modification(s), the scheme of amalgamation embodied in the scheme of arrangement between the company, Swati Storwel and Nu line Industries.