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Exchange Disseminated Time | Kavveri Telecom Products Ltd has informed BSE that the Board of Directors of the Company at its meeting held on November 26, 2012, have passed the following resolution:
1. The Board considered and approved the Scheme of Amalgamation for the merger of Kavveri Telecom Infrastructure Limited with Kavveri Telecom Products Limited subject to approval of the shareholders, concerned regulatory authorities and the High court.
2. Based on the Valuation carried out, the Board has approved for the share swap in the ratio of 1:11:27 (i.e. for every 1 share held by the shareholders of Kavveri Telecom Infrastructure Limited, 11.27 shares of Kavveri Telecom Products Limited will be allotted).
3. The Board considered the draft fairness certificate as issued by the merchant bankers and the board grants its approval for the same to be taken forward for the purpose of merger.
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