|
| Exchange Disseminated Time 24/08/2016 08:10:01 | Jindal Poly Films Ltd has informed BSE that the Board of Directors ("Board") of the Company in their meeting held on August 23, 2016, inter alia, have approved the following:
1. The Scheme of Amalgamation of Global Nonwovens Limited (wholly owned subsidiary) with Jindal Poly Films Limited. (Holding Company).
Share Entitlement Ratio:
Global Nonwovens Limited (Amalgamating Company) is a wholly owned subsidiary of Jindal Poly Films Limited (Amalgamated Company), upon coming into effect of this Scheme and upon vesting in and transfer of the assets and liabilities of the Amalgamating Company to the Amalgamated Company in accordance with the Scheme, no consideration shall be payable and no shares shall be allotted by the Amalgamated Company to the shareholders of Amalgamating Company.
Further this Scheme of Amalgamation is subject to various regulatory and other approvals and sanction by the Hon’ble High Court of Judicature at Allahabad (UP) and the Hon’ble High Court of Bombay.
2. Mr. Sunil Kumar Agarwal has been appointed as Non-Executive Director on the Board of the Company, w.e.f. August 23, 2016. |
|
|