VIVIMED LABS LTD. - Outcome of Board Meeting

Vivimed Labs Ltd has informed BSE that the Board of Directors of the Company at its meeting held on August 13, 2014. inter alia, have approved/resolved/taken note of the following:<br/><br/>1. Appointment of Mr. Vaidyanathan, as the Chief Financial Officer of the Company effective August 13, 2014.<br/><br/>2. Scheme of Amalgamation ("Scheme") of Klar Sehen Private Limited, Octtantis Nobel Labs Private Limited, Creative Healthcare Private Limited and Vivimed Labs (Alathur) Private Limited (collectively referred to as "Transferor Companies") being 100% subsidiaries, with Vivimed Labs Limited ("VLL").<br/><br/>The salient features of the Scheme are as under:<br/>(a) Appointed Date shall be April 01,2014;<br/>(b) All assets and liabilities of the Transferor Companies would be transferred to VLL;<br/>(c) Given the Transferor Companies are 100% subsidiaries of VLL, no shares would be issued as consideration for the merger. Investments held by VLL in subsidiaries would stand cancelled<br/><br/>The Scheme is subject to requisite approvals.