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| Exchange Disseminated Time | | Mangalam Cement Ltd (MCL) has informed BSE that at the meeting of the Board of Directors of Mangalam Cement Ltd (MCL) held on September 28, 2010, the report of M/s. Ernst & Young P. Ltd, was considered wherein they have recommended share Swap ratio of one share of Mangalam Cement Ltd. for every ten shares of Mangalam Timber Products Ltd. on merger of Mangalam Timber Products Ltd. (MTPL) with Mangalam Cement Ltd. Accordingly, the Board has decided to offer one equity share of Mangalam Cement Ltd. in exchange of ten shares of MTPL on merger of MTPL with Mangalam Cement Ltd. subject to necessary approvals of the Board of MTPL, shareholders of MCL and MTPL, Stock Exchanges, confirmation by Hon'ble High Courts of Rajasthan and Orrisa and other Statutory approvals, as are necessary and required. |
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