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| Exchange Disseminated Time | Kothari Products Ltd has informed BSE that the Board of Directors of the Company at its meeting held on August 25, 2007, has approved the proposal for scheme of arrangement between the Company and Pan Pang India Ltd., for demerger of Pan Masala Division, Bevarages Division and Trading Division into Pan Parag India Ltd., subject to approval of the Stock Exchanges, its shareholders and the Hon'ble High Court and the necessary approvals under various statutes.
Further the Company has informed that, the Board of Directors has also approved valuation report of M/s. Haresh Upendra & Co. Chartered Accountants, recommending exchange ratio of 1 Equity Share of Rs 10/- each of Pan Pang India Ltd for every 1 Equity Share of Rs 10/- each held by the shareholders in the Company.
The Scheme of Arrangement provides for the exit to small Shareholders holding Equity Shares in Physical Form. |
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