The Hindu Business Line : NFCL shareholders give nod for merger of Nagarjuna Palma

NAGARJUNA Fertilisers & Chemicals Ltd (NFCL) has informed the bourses on Tuesday that the shareholders of the company have approved the amalgamation of Nagarjuna Palma India Ltd with NFCL at an extraordinary general meeting held on December 23.

The EGM was convened pursuant to an order issued by the High Court of Andhra Pradesh for considering the amalgamation of Nagarjuna Palma, an unlisted subsidiary of NFCL, with the parent company.

The company informed that out of the 614 members and two proxies present at the EGM, 571 members including proxies voted in favour of the resolution seeking amalgamation of the two companies.

Only seven members voted against the resolution.

The resolution was carried by 99.99 per cent of the total value of shares held by members voting for the resolution.

More Stories on : Mergers & Acquisitions | Fertilisers

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