Socrus Bio Sciences Limited - Outcome of Board Meeting (Another Board Meeting on Oct 14, 2014)

Socrus Bio Sciences Ltd has informed BSE that the Board of Directors of the Company at its meeting held on September 30, 2014, has discussed and took into consideration the following:<br/><br/>1. Reduction of Capital of the Company to the extent of 95% of paid up capital against accumulated losses under Section 100 of the Companies Act, 1956.<br/><br/>2. Recommend the scheme of reduction for the consideration of the Audit Committee to be held on October 10, 2014, and<br/><br/>3. Appointed Valuer and Merchant Banker as per Clause 24(f) and 24(h) of the Listing Agreement.<br/><br/>The Board Meeting of the Company scheduled to be held on October 14, 2014 to consider the Reduction of Capital based on the recommendation of Audit Committee.