Galaxy Entertainment to approve amalgamation of PAN India Restaurants Ltd

Galaxy Entertainment Corporation Ltd has announced that a meeting of the Board of Directors of the Company will be held on December 20, 2006, inter alia, to consider and approve the following:

1. Scheme of amalgamation for proposed amalgamation of PAN India Restaurants Ltd with the Company and exchange ratio in this regard on basis of valuation report received from M/s Ernst & Young, Chartered accountants.

2. Proposal for merger of Galaxy Lifestyle Restaurants Ltd, wholly owned subsidiary with the company.

Source : Equity Bulls

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