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| Exchange Disseminated Time | Alembic Ltd has informed BSE that the Board of Directors of the Company at its meeting held on June 29, 2010 has, in-principle, approved the demerger of Pharmaceutical Undertaking of the Company and to merge the said Undertaking into Alembic Pharma Ltd., a wholly owned subsidiary Company of Alembic Ltd. with effect from appointed date i.e. April 01, 2010, subject to the requisite approvals including Shareholders, Creditors, Stock Exchanges, the Hon'ble High Court of Gujarat and other authorities, as may be required for the purpose.
The following Share Exchange Ratio has been determined: The existing Shareholders of Alembic Ltd. will get 1 (one) equity share having face value of Rs. 2/- each in the Resulting Company i.e. Alembic Pharma Ltd. (APL) for every 1 equity shares having face value of Rs. 2/- each held by them in the Company. This will be in addition to the equity shares already held by the shareholders in Alembic Ltd.
The Scheme of arrangement also envisages re-organisation of Vadodara Undertaking including re-valuation of assets. |
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