Gee Kay Finance & Leasing Company Ltd has informed that the Board of Directors of the Company at its meeting held on November 27, 2008, inter alia, have considered the following:
1. Board has approved composite Scheme of Arrangement. The salient features of Scheme of Arrangement are as follows:
(a) Reorganization of Share capital of GeeKay Finance and Leasing Company Ltd (GKFLCL). The present paid up share capital of GKFLCL of Rs 4,96,62,000 represented by 49,66,200 equity shares of Rs 10/- each shall be reorganized to Rs 49,66,200/- represented by 4,96,620 equity shares of Rs 10/- each.
(b) Merger of Sigrun Realties Ltd with GeeKay Finance and Leasing Company Ltd.
(c) Swap Ratio for Merger Post Reorganization of Share Capital: Shareholder holding 5 Equity Shares of Re 1/- each of the Sigrun Realties Ltd will be allotted 1 Equity Share of Rs 10/- each of Geekay Finance and Leasing Company Ltd.
(d) The Scheme of Arrangement is subject to sanction by members of the Company, High Court and other necessary approvals.
2. Board of Directors has appointed Mr. G P Vijay Kumar as Additional Director on the Board with effect from November 27, 2008.
1. Board has approved composite Scheme of Arrangement. The salient features of Scheme of Arrangement are as follows:
(a) Reorganization of Share capital of GeeKay Finance and Leasing Company Ltd (GKFLCL). The present paid up share capital of GKFLCL of Rs 4,96,62,000 represented by 49,66,200 equity shares of Rs 10/- each shall be reorganized to Rs 49,66,200/- represented by 4,96,620 equity shares of Rs 10/- each.
(b) Merger of Sigrun Realties Ltd with GeeKay Finance and Leasing Company Ltd.
(c) Swap Ratio for Merger Post Reorganization of Share Capital: Shareholder holding 5 Equity Shares of Re 1/- each of the Sigrun Realties Ltd will be allotted 1 Equity Share of Rs 10/- each of Geekay Finance and Leasing Company Ltd.
(d) The Scheme of Arrangement is subject to sanction by members of the Company, High Court and other necessary approvals.
2. Board of Directors has appointed Mr. G P Vijay Kumar as Additional Director on the Board with effect from November 27, 2008.
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