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| Exchange Disseminated Time | Pondy Oxides & Chemicals Ltd has informed BSE that the Board of Directors of the Company at its meeting held on March 29, 2012, has considered the following matters:
The Board of the Company noted that the Scheme of Amalgamation of M/s. Lohia Metals Pvt. Ltd. (Transferor Company) with M/s. Pondy Oxides and Chemicals Ltd (Transferee Company) has been approved by the High Court of Judicature at Madras vide its Order dated March 12, 2012 which was handed over to the Company by way of issuing Certified True Copy dated March 22, 2012.
In accordance with the aforesaid Order, the Board of Directors allotted 11,02,500 number of equity shares of Rs. 10/- each of the Company to the eligible shareholders of the Transferor Company in accordance with swap ratio of 2.5 shares of the Transferee Company for each share of the Transferor Company as approved by the aforesaid High Court.
The Board also noted that the Transferor Company held 57,640 number of equity shares in the Company which stands cancelled due to its amalgamation with the Company. Accordingly, the paid up capital of the Company, after allotment of aforesaid shares and cancellation in the aforesaid manner, stands revised at Rs. 11,15,19,850.00 consisting of 1,11,51,985 number of equity shares of Rs. 10/- each.
The Company will get the resulting shares listed with the Exchange in due course. |
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