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| Exchange Received Time 29/06/2018 16:44:34 Exchange Disseminated Time 29/06/2018 16:44:38 Time Taken 00:00:04 | REF: Scheme of Arrangement between 3i Infotech Limited ('Company') and its shareholders, under Sections 230 and 232 and other applicable provisions of the Companies Act, 2013 ('Scheme')
The Company wishes to inform you that the board of directors of the Company ('the Board') at its meeting today, June 29, 2018, approved the draft Scheme.
The Scheme, inter alia, provides for the following:
(a)Reduction of share capital of the Company on the Record Date (as defined in the Scheme). Such reduction shall be effected by reducing the face value of the equity shares of the Company from INR 10 to INR 1. The capital so reduced will be utilized to write off the accumulated losses of the Company.
(b)Subsequent to such reduction in face value of the equity shares of the Company, the Scheme provides for consolidation of 10 equity shares of the Company of INR 1 into one equity share of the Company of INR 10 each.
Please refer attached file for further details. |
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