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| Exchange Disseminated Time | Dhanuka Agritech Ltd has informed BSE that the Board of Directors of the Company at its meeting held on October 06, 2014, inter alia, have at the recommendation of the Audit Committee and subject to requisite regulatory approvals, approved the scheme of amalgamation of M/s. A. M. Bros. Fintrade Private Limited ('AMB') and M/s. Dhanuka Finvest Private Limited ('DFPL') with M/s. Dhanuka Agritech Limited ('DAL'), as per the Draft Scheme of Amalgamation placed before them.
DFPL and AMB are part of the Promoter Group of DAL. DFPL holds 61.89% of DAL's Paid-Up Equity Share Capital and AMB holds 11.06% of DAL's Paid-Up Equity Share Capital. Pursuant to the proposed amalgamation of DFPL and AMB with DAL, post-merger paid-up capital of the Company will remain same and there will be no dilution for any shareholders including public shareholders. The Trusts of individual Promoters will directly hold shares in DAL and there will be no change in the Promoter shareholding of DAL.
The Promoters will continue to hold the same percentage of shares in DAL i.e. 74.99% of DAL's Paid-Up Equity Share Capital even after this proposed merger. The purpose of this amalgamation is to simplify the shareholding structure and reduction of shareholding tiers and to demonstrate the Promoter Group's direct commitment to and engagement with DAL. |
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