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| Exchange Disseminated Time | LKP Finance Ltd has informed BSE that the Board of Directors of the Company at its meeting held on May 18, 2015, have considered end approved subject to statutory approvals, a scheme of arrangement by de-merger of Company's SEBI
registered Intermediaries Business of the Company into its Subsidiary i.e. LKP Securities Limited.
Whereby upon the coming into effect of the Scheme and in consideration of the transfer & vesting of Demerged Undertaking of the LKP Finance Limited (Transferor Company) in to LKP Securities Limited (Transferee Company) in terms of the Scheme, the Transferee Company shall, issue and allot to each member of the Transferor Company equity shares in the Transferee Company, in the ratio of 6 (Six) equity shares of the face value of Rs. 2/- (Rupees Two) each (credited as fully paid-up) of the Transferee Company for every 1 (one) equity share of the face value of Rs. 10/- (Rupees Ten) each (credited as fully paid-up) held by such member in the Transferor Company as on the record date to be decided subsequently for the purpose. |
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