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| Exchange Disseminated Time | Panchmahal Steel Ltd has informed BSE that (i) M/s. AMU Enterprises (P) Limited and (ii) M/s. Honeyvick Enterprises (P) Limited, are holding 37,03,760 and 68,12,245 equity shares of Panchmahal Steel Limited respectively in the capacity of persons acting in concert with promoters as per the provisions of Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.
Further the Company has informed that, a Scheme of Amalgamation between AMIL Enterprises Private Limited (the Transferor Company) and Honeyvick Enterprises Private Limited (the Transferee Company) has been approved by the Hon’ble High Court of Gujarat. In furtherance thereto, with filing of the requisite form with the Registrar of Companies (ROC) as per the provisions of the Act, the Scheme has become effective from February 24, 2016 (“Effective date”).
Pursuant to the aforesaid order of the Hon’ble High Court of Gujarat and as part of the Scheme, upon the coming into effect of this Scheme, the aggregate shareholding of Honeyvick Enterprises Private Limited (the Transferee Company) in Panchmahal Steel Limited has become 1,05,16,005 equity shares of Rs. 10/- each fully paid-up, representing 55.12% of the total paid-up equity share capital of Panchmahal Steel Limited. Thus, Honeyvick Enterprises Private Limited has now become the holding company of Panchmahal Steel Limited under the provision of the Companies Act, 2013. |
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