Financial Daily from THE HINDU group of publications
Saturday, Nov 06, 2004
Financial Daily from THE HINDU group of publications Saturday, Nov 06, 2004 |
||
|
|
||
|
Corporate
-
Courts/Legal Issues Morarjee Goculdas obtains HC nod to distribute MBL shares Our Bureau
Mumbai , Nov. 5 MORARJEE Goculdas Spinning & Weaving Company Ltd has informed the BSE that the Scheme of Arrangement between the company and its equity shareholders for distribution free of cost by the company to its equity shareholders, the equity shares of Morarjee Brembana Ltd (MBL) held by the company, has been sanctioned on November 4, 2004 by the High Court. Under this scheme, the equity shareholders would be eligible to receive 10 MBL equity shares of Rs 10 each free of cost for every 21 equity shares of company held on the date to be fixed by the board after the High Court's order is filed with the Registrar of Companies. Though not a part of the sanctioned scheme, the MGM Shareholders Benefit Trust would also distribute free of cost one MBL equity share of Rs 10 for every 25 equity shares held in the company. The trust will offer two preference shares of Rs 100 each of MBL at Rs 54 per share for every 39 equity shares held in the company carrying coupon rate at the rate of five per cent.
More Stories on : Courts/Legal Issues | Textiles
Article E-Mail :: Comment :: Syndication :: Printer Friendly Page
|
Stories in this Section |
|
The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription Group Sites: The Hindu | Business Line | Sportstar | Frontline | The Hindu eBooks | The Hindu Images | Home |
Copyright © 2004, The
Hindu Business Line. Republication or redissemination of the contents of
this screen are expressly prohibited without the written consent of
The Hindu Business Line
|