Treadsdirect Limited has informed the Exchange that the Board of Directors at their meeting held on July 10, 2010 have taken the following decisions: 1) To restructure the business of the Company with effect from April 1, 2010 through a Composite Scheme of Arrangement and Amalgamation by amalgamating the Company along with Elgi Rubber Company Ltd into Elgi Rubber International Limited a Company which will eventually be listed on the National Stock Exchange of India Limited, Mumbai. 2) De-merging certain divisions of the Company to Treadsdirect (India) Limited which will become a Wholly Owned Subsidiary Company of Elgi Rubber International Limited. 3) The Board of Directors have constituted a Committee of Directors named as 'Amalgamation and Restructuring Committee' to determine the swap/ share entitlement ratio, as recommended by M/s Reddy Goud and Janardhan, Chartered Accountants, Bangalore and to finalise and approve the Composite Scheme of Arrangement and Amalgamation. Treadsdirect Limited has informed the Exchange that the Board of Directors at their meeting held on July 23, 2010 have approved a scheme of amalgamation and arrangement between the Company, Elgi Rubber Company Limited, Elgi Rubber International Limited and their respective subsidiaries, subject to statutory approvals. The appointed date for the scheme would be April 01,2010. The swap ratio as recommended by the Valuers and approved by the Board of Directors is : Allotment of one (1) share of Re. 1/- each in the amalgamated Company (Elgi Rubber International Limited) in lieu of every four (4) shares of Re. 1/- each held in the Company. (As Per NSE Bulletin dated on 26.07.2010) Treadsdirect Limited has informed the Exchange that the Hon'ble High Court of Judicature at Madras has passed order dated December 16, 2010, approving the Scheme of Amalgamation & Arrangement between Elgi Rubber Company Limited and Treadsdirect Limited and Elgi Rubber International Limited and Titan Tyrecare Products Limited and Treadsdirect (India) Limited. The said order was received by the Company on December 29, 2010. The Company has fixed January 12, 2011 as the Record Date to determine equity shareholders of the company entitled to receive 1 (one) equity shares of Elgi Rubber International Limited for every 4 (four) equity shares held in the Company. Further, the Company has submitted to the Exchange a copy of 'Notes on the Scheme'. (As Per NSE Bulletin dated on 04.01.2011)