Promoters of Hydro S&S Industries enter into SPA for stake sale

Hydro S & S Industries Ltd have received a letter dated May 21, 2013 from Mr.V.Srinivasan representing the promoters of the Company stating that they have entered into a Share Purchase Agreement with M/s. Kingfa Sci. & Tech. Co., Ltd., Guangzhou, China for sale of their entire holding of Equity Shares in the Company.

The Company has also received a letter dated May 20, 2013 from Master Capital Services Ltd being Manager to the Open Offer for acquisition of up to 16,65,874 Equity Shares from Public Shareholders of Hydro S & S Industries Limited by Kingfa Sci & Tech. Co, Ltd, Guangzhou, China. They have given a Public Announcement under Regulation 13(1) and. 15(1.) of Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulation, 2011.

Shares of Hydro S & S Industries Ltd last traded in BSE at Rs.17.03, up by Rs.0.81 or 4.99%. The stock hit an intraday high of Rs.17.03 and low of Rs.17.03.

The total traded quantity was 2494 compared to 2 week average of 3499.

Source : Equity Bulls

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