Shaw Wallace & Company Ltd has informed that the Board of Directors of the Company at its meeting held on November 28, 2007 has considered and approved the following proposal:
1. Merger of Shaw Wallace & Company Ltd (the Company) and Primo Distributors Pvt Ltd (Primo) with United Spirits Ltd (USL)
a. The Appointed Date for the merger will be April 1, 2007.
b. In respect of merger of the Company, USL shall allot shares in the following ratio:
(i). 4 fully paid up equity share of Rs 10 each for every 17 equity shares of Rs 10 each held in the Company.
The share exchange ratio has been determined based on the recommendation of two independent Valuers viz,, M/s. Dalal & Shah, Chartered Accountants and Grant Thornton India Pvt Ltd.
The Scheme is subject to requisite consent, approval of the requisite majority of the shareholders, lenders, creditors of the companies, the Honble High Courts of Bombay, Karnataka and Calcutta, the permission or approval of the Central Government or any other statutory or regulatory authorities, which by law may be necessary for the implementation of the Scheme.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment