Accel Frontline Ltd has informed BSE that the Board of Directors of the Company at its meeting held on September 29, 2011, has discussed various strategies, both organic and inorganic for the accelerated growth of the Company. As a first step, the Company considered consolidation of two of its group companies namely Accel Frontline Services Ltd. and Accel IT Resources Ltd. which are into IT Services that are complimentary to the existing line of business of the Company through a merger process. However, the board decided to appoint one of the top 3 global accounting firms to advise them on valuations and all other related subjects. Accel Frontline Ltd (AFL) has informed BSE as under : 'With an objective to create a significant presence in IT service space using synergies of the companies, the board of directors approved the merger of Accel Frontline Services Limited (AFSL) with the company (AFL). AFSL is in the business for more than 18 years. The company offers Warranty Management Solutions for IT Products and mobile devices; Manufacturing, selling and servicing of High end Automation products, Payment Collection Solutions, Multi-Function Kiosks and Power Conditioning Systems. The details on the pricing and the rationale of this merger would be available in the scheme of arrangement. Further, the merger is subject to necessary approvals by the shareholders of both companies and other statutory authorities. The board also decided to acquire 100% stake in Accel IT Resources Limited (AITRL). AITRL is in the business of training for the past 18 years. The company offers training in IT Infrastructure management, Embedded systems and Networking. AFSL and AITRL are wholly owned subsidiaries of Accel Limited. Accel Limited, established in 1991, is the main promoter and the major shareholder of AFL. The valuation exercise comprising swap ratio for the merger of AFSL with AFL and valuation of the shares for acquisition of AITRL was carried out by 'M/s. KPMG India Private Limited'. (As Per BSE Announcement Website dated on 11.11.2011) Accel Frontline Ltd has informed BSE that the Court Convened Meeting of the Equity Shareholders of the Company held on March 22, 2012, has passed by the Hon'able High Court of judicature of Madras in the Company Application no. 159 for Scheme of Arrangement of Amalgamation between Accel Frontline Services Limited with Accel Frontline Limited. (As Per BSE Announcement Website dated on 23.03.2012) Accel Frontline Ltd has informed BSE that pursuant to the filling of eform 21 on September 21, 2012 along with the certified true copy of the order of the High Court of Madras with the Registrar of Company Chennai, Accel Frontline Services Limited an asscociate company of Accel Frontline Limited stands merged with Accel Frontline Limited. The merger comes into effect from the Appointed Date i.e. April 01, 2011. (As Per BSE Announcement Dated on 21.09.2012) Accel Frontline Ltd has informed BSE regarding a Press Release dated September 24, 2012 titled ' Accel Frontline Services Ltd merges with Accel Frontline Ltd'. Press Release: 'Accel Frontline Limited (www.accefrontline.in) has announced that the Honourable High Court of Madras has approved the merger of Accel Frontline Services Limited with the Company. The merger is effective from 01/04/2011.' (For more details kindly refer Corporate Announcements on www.bseindia.com). (As per BSE Announcement Dated on 24.09.2012) Trading members of the Exchange are hereby informed that the under mentioned new securities of Accel Frontline Limited (Scrip Code: 532774 ISIN: INE020G01017) are listed and permitted for trading on the Exchange with effect from Tuesday, December 18, 2012. Security Details 75,00,000 equity shares of Rs.10/- each issued pursuant to the Scheme of Amalgamation of Accel Frontline Services Limited with the company. These shares are ranking pari-passu with the existing equity shares of the company. Dist. Nos. 2,25,09,001 to 3,00,09,000 Date of Allotment 16/10/2012 (As per BSE Notice Dated on 17.12.2012)