Dabur India Ltd has informed that the Board of Directors of the Company at its meeting held on November 21, 2008, inter alia, has considered and unanimously approved the following:
1. Entering into a Share Purchase Agreement with the existing promoters of FEM CARE PHARMA LTD (FEM) for acquisition of 25,46,596 equity shares of Rs 10/- each of FEM representing 72.15% of the fully diluted paid up equity share capital of FEM (including 5,21,300 equity shares which are to be issued pursuant to the scheme of merger with Mirasu Marketing Ltd., a subsidiary of FEM) at a price of Rs 800 per equity share. At present the Company is acquiring 20,25,296 equity shares of Rs 10 each constituting 67.33% of existing equity share capital of the Company.
The balance 5,21,300 equity shares shall be acquired as and when allotted and also includes 1,30,326 equity shares of Rs 10 each which shall be under lock-in pursuant to requisite regulations / laws / scheme of merger and shall be acquired subject to approval of Stock Exchange in this regard.Pursuant to above, the Company has executed a Share Purchase Agreement with the Existing Promoters of FEM to this effect.
2. Making an Open Offer to the public shareholders of FEM in accordance with SEBI (Substantial Acquisition of Shares and Takeovers), Regulations, 1997 for acquisition of 7,05,880 equity shares of Rs 10 each representing 20% of the fully diluted paid up equity share capital of FEM.
1. Entering into a Share Purchase Agreement with the existing promoters of FEM CARE PHARMA LTD (FEM) for acquisition of 25,46,596 equity shares of Rs 10/- each of FEM representing 72.15% of the fully diluted paid up equity share capital of FEM (including 5,21,300 equity shares which are to be issued pursuant to the scheme of merger with Mirasu Marketing Ltd., a subsidiary of FEM) at a price of Rs 800 per equity share. At present the Company is acquiring 20,25,296 equity shares of Rs 10 each constituting 67.33% of existing equity share capital of the Company.
The balance 5,21,300 equity shares shall be acquired as and when allotted and also includes 1,30,326 equity shares of Rs 10 each which shall be under lock-in pursuant to requisite regulations / laws / scheme of merger and shall be acquired subject to approval of Stock Exchange in this regard.Pursuant to above, the Company has executed a Share Purchase Agreement with the Existing Promoters of FEM to this effect.
2. Making an Open Offer to the public shareholders of FEM in accordance with SEBI (Substantial Acquisition of Shares and Takeovers), Regulations, 1997 for acquisition of 7,05,880 equity shares of Rs 10 each representing 20% of the fully diluted paid up equity share capital of FEM.
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