July 29 (Reuters) - Gazal Corp Ltd GZL.AX :
* Gazal to sell trade secret to the tjx companies, inc GZL.AX
* Proceeds Gazal will receive from planned sale will be used initially to provide for payment of capital gains tax and to reduce debt
* Gross proceeds from the planned sale of shares of the trade secret entity are expected to be aud$80 million on a cash and debt free basis
* Says the balance of surplus proceeds estimated to be in the range of A$37 million to A$41 million are proposed to be distributed to shareholders
* Source text for Eikon ID:nASX9PZXvb