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| Exchange Disseminated Time | With reference to the earlier announcement dated September 10, 2010 wherein the Board of BASF India Ltd. (BIL) has approved the Scheme of Amalgamation (Scheme) and also share exchange ratio, determined by the independent valuers viz., Ernst & Young and Deloitte, subject to the approval of shareholders and High Court of Bombay, BASF India Ltd has now informed BSE that the issued, subscribed and paid up capital of BASF Coatings (India) Pvt. Ltd. (BCIN) is Rs. 37,17,54,000/-comprising of 3,71,75,400 equity shares of Rs. 10/- each, fully paid. Further, the issued, subscribed and paid up capital of BASF Construction Chemicals (India) Pvt. Ltd. (BCCIPL) is Rs. 2,46,48,850/- comprising of 24,64,885 equity shares of Rs. 10/- each, fully paid. Accordingly, based on the share exchange ratio as determined by the above two independent valuers and as approved by the Board, it is expected that BIL will issue 25,15,653 equity shares of Rs. 10/- each fully paid to the shareholders of BCIN & BCCIPL. Consequently, the issued share capital of BIL will increase from Rs. 40,76,99,870/- comprising of 4,07,69,987 equity shares of Rs. 10/- each to 43,28,56,400/- comprising of 4,32,85,640 equity shares of Rs. 10/- each.
As BPIL is a wholly owned subsidiary of BIL, equity shares held by BIL in BPIL will stand cancelled.
Pursuant to the said issue of shares, shareholding of BASF Group will increase from 71.69% to 73.33%. |
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