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| Exchange Disseminated Time | BASF India Ltd has informed BSE that the Board of Directors of the Company at its meeting held on September 12, 2009, has approved the Scheme of Amalgamation of Ciba India Ltd and its affiliates viz., Diamond Dye-Chem Ltd and Ciba Research (India) Pvt. Ltd., being the Transferor Companies with BASF India Ltd, the Transferee Company.
The appointed date for this purpose has been fixed as February 01, 2010. The share exchange ratio has been jointly determined by independent valuers viz., Ernst & Young Pvt. Ltd. and Deloitte Touche Tohmatsu India Pvt. Ltd. The exchange ratio has been determined at 90 (Ninety) equity shares of BASF India Ltd. of Rs. 10/- each fully paid for every 100 (One Hundred) equity shares of Ciba India Ltd. of Rs 10/- each fully paid and 18 (Eighteen) equity shares of BASF India Ltd. of Rs. 10/- each fully paid for every 100 (One Hundred) equity shares of Ciba Research (India) Pvt. Ltd. of Rs. 10/- each fully paid.
The amalgamation is subject to requisite approvals and sanctions as may be necessary. |
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