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| Exchange Disseminated Time | BASF India Ltd has informed BSE that the Board of Directors of the Company at its meeting held on September 09, 2010 has approved the Scheme of Amalgamation of BASF Coatings (India) Pvt. Ltd., BASF Construction Chemicals (India) Pvt. Ltd. and BASF Polyurethanes India Ltd., being the Transferor Companies with BASF India Ltd., the Transferee Company ("the Scheme").
The appointed date for this purpose has been fixed as April 01, 2010. The share exchange ratio has been determined by independent valuers viz,, Ernst & Young Pvt. Ltd. and Deloitte Touche Tohmatsu India Pvt. Ltd. The exchange ratio has been determined at 1 (One) equity share of BASF India Ltd. of Rs. 10/- each fully paid for every 60 (Sixty) equity shares of BASF Coatings (India) Pvt. Ltd. of Rs. 10/- each fully paid and 10 (Ten) equity shares of BASF India Ltd. of Rs. 10/- each fully paid for every 13 (Thirteen) equity shares of BASF Construction Chemicals (India) Pvt. Ltd. of Rs. 10/- each fully paid.
The amalgamation is subject to requisite approvals and sanctions as may be necessary. |
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