|
| Exchange Disseminated Time 29/10/2015 18:22:55 | Essel Propack Ltd has informed BSE that the Board of Directors of the Company at its meeting held on October 29, 2015, inter alia, have at the recommendation of the Audit Committee, approved a Scheme of Amalgamation of its holding Company, Whitehills Advisory Services Private Limited (Whitehills), with the Company as per the Draft Scheme of Amalgamation placed before them.
Whitehills, being the holding Company currently holds 56.60% of EPL's paid-up equity share capital. Pursuant to the proposed amalgamation of Whitehills with EPL, the shareholders of Whitehills would directly hold shares in EPL. This would simplify the holding structure and reduce the layer of holding companies.
There would neither be any change in the capital structure nor in the promoters shareholding of EPL, nor there will be any dilution for public shareholders, as a result.
The aforesaid Scheme of Amalgamation shall be subject to requisite approvals of the Shareholders / Creditors of the companies, the Hon’ble High Court of Bombay and other statutory / regulatory authorities, as may be applicable. |
|
|