|
| Exchange Disseminated Time | Ion Exchange India Ltd has informed BSE that the Board of Directors of the Company at its meeting held on September 07, 2012, inter alia, approved the following :
1. Scheme of amalgamation of ION EXCHANGE SERVICES LIMITED (IESL) with tile Company in terms of the resolution passed by the Board of Directors at their Board meeting held on August 06, 2012 and after taking into consideration Valuation report from M/s. Grant Thornton India LIP, the Valuer, Fairness Opinion from M/s. KJMC Corporate Advisors (India) Limited, the Merchant Bankers and Share Exchange Ratio and pursuant to the provision of Sections 391 to 394 read and other applicable provisions, if any, of the Companies Act, 1956, and the provision of Sub clause no. ‘24’ of Clause ‘3’ of object for which the Company is established’ of the Memorandum of Association and provision of the Article of Association of the Company and subject to requisite approvals / consents / sanctions and permissions of the appropriate authorities, if necessary and subject to the approval of the Stock Exchange and Hon'ble High Court of Judicature at Bombay and Equity Shareholders as well as the creditors of the Company, as may be directed by the Hon’ble High Court.
2. The share swap ratio whereby 42 Ion Exchange (India) Limited shares to be issued for every 19 existing Ion Exchange Services Limited shares.
3. Appointment of M/s. Hemant Sethi & Co., Advocates, Mumbai, as Legal Advisors and M/s Walker, Chandiok & Co., as Consultants. |
|
|