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| Exchange Disseminated Time | Consolidated Finvest & Holdings Ltd has informed BSE that the Board of Directors of the Company at its meeting held on January 03, 2008, has considered and approved de-merger of its business of investments in group Companies (Business Holding division) in to a new Company i.e. Jindal India Finvest & Holdings Ltd (JIFHL) and amalgamation of Jindal India Powertech (JIPL) with Consolidated Finvest & Holdings Ltd.
The salient features of proposed scheme of Arrangement and Amalgamation is under:
1. Appointed Date for the scheme of Arrangement and Amalgamation is April 01, 2008.
2. De-merger of Business Holding Division in to new Company i.e. Jindal India Finvest & Holdings Ltd (JIFHL) to be listed at National Stock Exchange of India Ltd & Bombay Stock Exchange Ltd.
3. Issue of one equity share as fully paid of Jindal India Finvest & Holdings Ltd for every one equity share of Consolidated Finvest & Holdings Ltd (CFHL) to the existing shareholders of CFHL.
4. Amalgamation of Jindal India Powertech (JIPL) with Consolidated Finvest & Holdings Ltd.
5. Issue of one equity share of CFHL as fully paid up to the equity share holders of JIPL for every one fully paid up equity share held by them and to issue one CFHL partly paid up equity share of same value for every one partly paid equity share held in the capital of JIPL.
6. Alteration in the Main Objects of Consolidated Finvest & Holdings Ltd.
7. Change of name of Jindal India Finvest & Holdings Ltd to Consolidated Finvest & Holding Ltd and change of name of Consolidated Finvest & Holdings Ltd to Jindal India Powertech Ltd. |
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