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| Exchange Disseminated Time | Jayaswal Neco Industries Ltd has informed BSE that the Board of Directors of the Company at its meeting held on May 28, 2010, has approved the Scheme of Arrangement between the Company and Corporate Ispat Alloys Ltd. (CIAL) providing for demerger of Steel Division of CIAL for the purpose of its merger with the Company with effect from April 01, 2010.
The Company shall upon coming into force the Scheme issue as consideration, 3 (Three) Equity Shares of Rs. 10/- each credited as fully paid to the eligible Shareholders of CIAL for every 2 (Two) shares of Rs. 2/- each held by them on the Record Date. |
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