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| Exchange Disseminated Time 04/11/2016 17:16:47 | Neuland Laboratories Ltd has informed BSE that the Board of Directors of the Company at its meeting held on November 04, 2016, inter alia, has accorded the following;
1. Scheme of Amalgamation and Arrangement amongst the Company, Neuland Health Sciences Private Limited (“NHSPL”) and Neuland Pharma Research Private Limited (“NPRPL”) and their respective shareholders and creditors. As a part of the proposed merger, both NHSPL and NPRPL will be amalgamating into NLL and consequently, equity shares of NLL would be issued to the shareholders of NHSPL and NPRPL.
2. Took on record Independent Valuation Report dated November 04, 2016 submitted by Deloitte Haskins fit Sells, Chartered Accountants and Fairness Opinion issued by M/s SBI Capital Markets Limited, SEBI registered Category I Merchant Bankers.
The Board of Directors of NHSPL and NPRPL, have at the meeting held on even date, also approved the aforementioned Scheme, subject to necessary approvals. |
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