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| Exchange Disseminated Time 27/05/2017 15:49:02 | Igarashi Motors India Ltd has informed BSE that the Board of Directors of the Company at its meeting held on May 27, 2017, approved the Scheme of Arrangement ('Scheme') facilitating the:
1. Amalgamation of Agile Electric Sub Assembly Private Limited with the Company under section 230 read with section 232 and other applicable provisions of the Companies Act, 2013 with the appointed date of 1sl April, 2017 and;
2. Issue of bonus equity shares only to the public shareholders of the Company pursuant to the Scheme in the interest of the public shareholders and to ensure compliance of minimum public shareholding post the merger.
The Scheme is subject to the approval of the Shareholders, creditors, the Hon'ble National Company Law Tribunal ('NCLT1) and all other regulatory and necessary approvals and therefore, the record date for the issue of bonus shares, which will be an integral part of the Scheme, will be fixed only post the necessary approvals are obtained. |
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