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| Exchange Disseminated Time 11/07/2016 14:44:14 | Kajaria Ceramics Ltd has informed BSE that the Board of Directors of the Company at its meeting held on July 11, 2016 (ended at 2.15 P.M), inter alia, considered and approved the scheme of Arrangement under section 391 to 394 read with Section 100 to 103 of the companies Act, 1956 and corresponding sections of the Companies Act, 2013 (as and when such corresponding sections are notified in the Official Gazette by the Central Government) between Kajaria Ceramics Limited ('KCL') and Kajaria Securities Private Limited (‘KSPL’) and their respective shareholders and creditors ('Scheme').
KSPL is part of the Promoter Group of KCL Pursuant to the proposed amalgamation of KSPL with KCL, there will be no dilution for any shareholders including public shareholders. The individual Promoters will directly hold shares in KCL and there will be no change in the Promoter shareholding of KCL.
The purpose of this scheme is to simplify the shareholding structure and reduction of shareholding tiers and to demonstrate the Promoter Group's direct commitment to and engagement with KCL. |
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