Linc Pen & Plastics Ltd has informed that the Board of Directors of the Company at its meeting held on April 07, 2008, has considered and approved the following:
1. The Scheme of Arrangement and Amalgamation for merger of Shree Writing Aids Pvt Ltd into the Company.,
- the Appointed Date for the Scheme is April 01, 2008.
- 165 (One hundred Sixty Five) equity shares of Rs 10/- each fully paid up of the Company will be issued for every 1 (One) equity shares of Rs 100/- each fully paid up in Shree Writing Aids Pvt Ltd. The share exchange ratio was determined by SSPA & Co. Chartered Accountants.
- The Scheme is subject to all requisite consents approvals of the requisite majority of the shareholders, the Honble High Court of Judicature at Calcutta, concerned Stock Exchanges; the permission or approval of any other statutory or regulatory authorities, which by law may be necessary for the implementation of the Scheme:
2. The following changes in the remuneration payable to the Shri. Deepak Jalan, Managing Director and Shri. Aloke Jalan, Whole time Director w.e.f. April 01, 2008, based on the approval of the members at the Annual General Meeting held on August 31, 2005, and as approved by the remuneration committee of the Board and Subject to Such other approvals if required.
Except as above, all other terms and conditions of appointment and remuneration of Shri. Deepak Jalan, Managing Director, and Shri. Aloke Jalan Whole time Director, shall remain same and unaltered.
1. The Scheme of Arrangement and Amalgamation for merger of Shree Writing Aids Pvt Ltd into the Company.,
- the Appointed Date for the Scheme is April 01, 2008.
- 165 (One hundred Sixty Five) equity shares of Rs 10/- each fully paid up of the Company will be issued for every 1 (One) equity shares of Rs 100/- each fully paid up in Shree Writing Aids Pvt Ltd. The share exchange ratio was determined by SSPA & Co. Chartered Accountants.
- The Scheme is subject to all requisite consents approvals of the requisite majority of the shareholders, the Honble High Court of Judicature at Calcutta, concerned Stock Exchanges; the permission or approval of any other statutory or regulatory authorities, which by law may be necessary for the implementation of the Scheme:
2. The following changes in the remuneration payable to the Shri. Deepak Jalan, Managing Director and Shri. Aloke Jalan, Whole time Director w.e.f. April 01, 2008, based on the approval of the members at the Annual General Meeting held on August 31, 2005, and as approved by the remuneration committee of the Board and Subject to Such other approvals if required.
Except as above, all other terms and conditions of appointment and remuneration of Shri. Deepak Jalan, Managing Director, and Shri. Aloke Jalan Whole time Director, shall remain same and unaltered.
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