STATE TRADING CORPORATION OF INDIA LTD. - 512531 - Intimation Under Regulation 30 Of SEBI (LODR) Regulations, 2015* Outcome Of Board Meeting
This is to inform you that the Board of Directors of the Company have, at its meeting held today Le. November 10, 2020, inter-alia, considered and approved the following: 1. To immediately stop the Business Activities / operations of the Company except completing / concluding the ongoing contracts, etc. in hand. 2. In-principle approval for initiating the process of De-listing of STC''s Shares from all the Stock Exchanges and to appoint the Merchant Banker for carrying out the due diligence, etc. The above decisions have been taken in view of the recent developments concerning the future of the Company and considering the fact that there is remote possibility for the Company to achieve the Minimum Public Shareholding criteria of 25% required as per Regulation 19A of Securities Contracts (Regulation) Rules, 1957 and Regulation 38 of SEBI (Listing Obligations & Disclosure Requirements) Regulation, 2015.10-11-2020