ALOK INDUSTRIES LTD. - Clarifies on News Item
| < Back | |
| 20 Nov 2014 | |
| With reference to the News item appearing in a leading newspaper dated November 20, 2014 titled "Alok Industries to sell land, retail chain", Alok Industries Ltd has Clarified to BSE a sunder:<br/><br/>"a) This article carries a rather dated piece of information on sale of land and the retail chain in the United Kingdom and one that was first informed to the Exchanges as early as in January 2010. The article pertains to our stated objective of exiting all non-core areas i.e. retail and real estate which was announced long back and we have been updating progress on the said matter from time to time to the Exchanges through our note on 'Key Development during the Quarter" accompanying our quarterly financial results;<br/><br/>b) The article quotes our Chief Financial Officer as stating that, "We are looking for a Buyer for our UK retail chain, Store 21..." i.e. there is no buyer as on date and hence no negotiations are being carried on;<br/><br/>c) The amount stated is a rough estimate that we hope to gamer over the next two years by selling the non core assets. As and when we make significant headway in this respect, we will inform the Exchanges through our "Key Developments" updates;<br/><br/>d) The news on the long term export advance was also intimated to the Exchanges vide our letter of October 01, 2014." | |
| View all announcements for ALOK INDUSTRIES LTD. | Source: BSE India |
© 2024 Rediff.com India Limited. All rights reserved. Disclaimer - Terms of Service - Privacy Policy - Feedback