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| Exchange Disseminated Time | Dynacons Systems & Solutions Ltd has informed BSE regarding "Allotment of Equity Shares pursuant to the scheme of Arrangement".
Announcement:
"With reference to the earlier announcement regarding fixation of January 07, 2011 as the record date for the purpose of issuance of shares by M/s. Dynacons Technologies Limited (‘DTL’) to the shareholders of Dynacons Systems & Solutions Limited (DSSL) pursuant to Scheme of Arrangement between DSSL and DTL and their respective shareholders and creditors, the Board has been informed, that the Board of Directors of DTL, has in accordance with the terms of the Scheme of Arrangement on January 18, 2011 issued and allotted an aggregate of 44,432,100 equity shares of Re. 1/- each DTL, credited as fully paid-up, to the members of DSSL whose names are recorded in the register of members and records of the depository as members of DSSL on the record date, in the ratio of 3 (three) equity shares in DTL of face value of Re. 1/- each credited as fully paid-up for every of 10 (ten) equity shares of Rs. 2/- each fully paid-up held by such member in DSSL.
As per the terms of Scheme of Arrangement, all equity shares of DTL (including those issued in terms of Scheme of Arrangement) shall be listed and/or admitted to trading on the Bombay Stock Exchange Ltd. and the National Stock Exchange of India Ltd. (the ‘Stock Exchanges) where the existing Equity Shares of DSSL are listed and admitted for trading subject to:
a) in the case of shares allotted in demat form, remain frozen in the depositories system and therefore, not be available for trading; and
b) in the case of shares allotted in physical form, not be available for trading on the floor of the Stock Exchange(s)
till the relevant directions in relation to listing/trading are given by the relevant Stock Exchange(s).
Further as provided in the Scheme of Arrangement the paid-up equity share capital of DSSL has been reduced from Rs. 296,923,500 divided into 148,077,000 equity shares of Rs. 2 each to Rs. 59,230,800 divided into 59,230,800 equity shares of Re. 1/- each in a manner that every member whose names are recorded in the register of members and records of the depository as members of DSSL on the record date, holding 10 equity shares of Rs. 2/ - each shall hold 4 equity shares of Rupee 1/ - each post arrangement." |
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