SE Investments Ltd has informed that the Board of Directors of the Company at its meeting held on September 11, 2008, has approved the Scheme of Amalgamation of Unnati Financial Services Pvt. Ltd with SE Investments Ltd.
As per the Scheme of Amalgamation, shareholders of Unnati Financial Services Pvt. Ltd shall receive 1 fully paid-up equity share of SE Investments Ltd of Rs 10/- each for every 10 fully paid-up equity shares of Re 1/- each of Unnati Financial Services Pvt. Ltd.
The Scheme of Amalgamation is pursuant to the provisions of Sections 391 to 394 and other applicable provisions of the Companies Act, 1956 and is subject to the approval of shareholders, creditors and the High Court of Judicature, New Delhi. The Scheme of Amalgamation shall come into operation from the Appointed Date, which is August 31, 2008.
Further the Board of Directors of the Company in the said meeting has, subject to the approval of the members, approved pursuant to the provisions of SEBI (DIP) Guidelines for Preferential Issues, to issue 300000 warrants convertible into equity shares on preferential basis to strategic investors, being non-promoters
As per the Scheme of Amalgamation, shareholders of Unnati Financial Services Pvt. Ltd shall receive 1 fully paid-up equity share of SE Investments Ltd of Rs 10/- each for every 10 fully paid-up equity shares of Re 1/- each of Unnati Financial Services Pvt. Ltd.
The Scheme of Amalgamation is pursuant to the provisions of Sections 391 to 394 and other applicable provisions of the Companies Act, 1956 and is subject to the approval of shareholders, creditors and the High Court of Judicature, New Delhi. The Scheme of Amalgamation shall come into operation from the Appointed Date, which is August 31, 2008.
Further the Board of Directors of the Company in the said meeting has, subject to the approval of the members, approved pursuant to the provisions of SEBI (DIP) Guidelines for Preferential Issues, to issue 300000 warrants convertible into equity shares on preferential basis to strategic investors, being non-promoters
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