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| Exchange Disseminated Time | Rane (Madras) Ltd has informed BSE that at the meeting of the Board of Directors held on March 21, 2014:
(a) The Board took on record the Scheme of amalgamation of Rane Diecast Limited (RDL) with Rane (Madras) Limited as sanctioned by the Hon'ble High Court of Madras vide order dated February 18, 2014, under Section 391-394 of the Companies Act, 1956 (‘the Scheme’).
Pursuant to the provisions of the Scheme, the Board of Directors has allotted shares to Rane Holdings Limited, as follows:
i) 3,46,504 equity shares of Rs. 10/- each fully paid-up; and
ii) 82,32,164, 6.74% Cumulative Preference shares of Rs. 10/- fully paid-up.
The listing application would be filed shortly for listing the newly allotted 3,46,504 equity shares of Rs. 10/- each.
(b) Mr. P. S. Kumar, an Independent Director, resigned from the Board with effect from March 21, 2014. |
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