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Board of Priya approves proposal for draft scheme of amalgamation

Priya announced that the Board of Directors of the Company at its meeting held on 29 March 2016, based on the recommendation of the Audit Committee, has approved the proposal for the Draft Scheme of Amalgamation of VXL Instruments ("Transferor Company") with Priya ("Transferee Company").

The proposal will be implemented by a Draft Scheme of Amalgamation ("Scheme") under the provisions of Sections 391-394 of the Companies Act, 1956 and other applicable provisions as may be amended from time-to-time. The appointed date of the Draft Scheme of Amalgamation has been fixed as 01 April 2015.

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