Board Meeting Of Goodyear India (09-Feb-2010)
Goodyear India Ltd has informed that the Board of Directors of the Company at its meeting held on February 09, 2010, inter alia, has:
1. Considered and approved the proposal (the Delisting Proposal) received from The Goodyear Tire & Rubber Company (GTRC), on February 08, 2010, to (either directly or through one or more of its wholly owned subsidiaries) initiate a voluntary delisting of the equity shares of the Company from the Bombay Stock Exchange Ltd in accordance with the provisions of Securities and Exchange Board of India (Delisting of Equity Shares) Regulations, 2009 (the Delisting Regulations), subject to applicable law, approval of the shareholders of the Company and in-principle approval of the Bombay Stock Exchange Ltd. At present, GTRC holds 74% of the total paid-up share capital of the Company.
2. Decided that the Delisting Proposal will be placed before the shareholders of the Company for their consideration and to seek their approval by a special resolution passed through postal ballot in accordance with the Delisting Regulations.
3. Approved the draft notice and explanatory statement to be sent to all the shareholders of the Company for passing a special resolution by way of a postal ballot.
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