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| Exchange Disseminated Time | | Kesar Terminals & Infrastructure Ltd has informed BSE that pursuant to the Scheme of Arrangement for Demerger of Storage Undertaking / Division of Kesar Enterprises Ltd. (KEL) into Kesar Terminals and Infrastructure Ltd. (KTIL), 47,53,113 Equity shares of Rs. 10/- each fully paid were issued and allotted by KTIL to the shareholders of KEL in the ratio of 10:7 i.e. for every 10 shares held in KEL 7 shares in KTIL. This resulted in some shareholders becoming entitled to fractional share. In accordance with the terms of the said Scheme, all such fractional shares were consolidated into 510 Equity shares which were allotted, in favour of the Trustee of the Company, who in turn had sold the same in open market through BSE. The proceeds from the sale of the said 510 shares have been distributed / dispatched to all the eligible shareholders in the proportion to which they were so entitled. |
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