At meeting held on 22 April 2017
Advanced Enzyme Technologies announced that the Board of Directors of the company at its meeting held on 22 April 2017 has approved the following -Investment in Advanced Biodiesel by acquiring/ subscribing up to 15% of paid up share capital for an amount not exceeding Rs 3.75 crore. Investment by the Company in ABL will be made in a phased manner and will be completed in a period of 18 months.
Investment by way of subscription / purchase of share of Palm Techno Ventures Enzyme Sdn Bhd, Malaysia up to RM 200,000 (for up to 80% of the paid up capital of PTVE). The said investment is expected to be completed by end of June 2017. Upon such investment PTVE shall become subsidiary of the Company.
Powered by Capital Market - Live News
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)