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Our Bureau

Mumbai , June 21

FORBES Gokak Ltd has informed the BSE that its board has approved a scheme of amalgamation of FAL Industries Ltd with the company.

Shareholders of FAL will be allotted one share of Forbes Gokak for every seven they hold.

The company, along with its subsidiary, Forbes Finance, holds 37.44 per cent of the paid-up share capital of FAL Industries.

The amalgamation is subject to the approval of the shareholders of the two companies and the High Courts of appropriate jurisdiction.

Forbes Gokak Ltd has also informed the BSE that its board has recommended a dividend of 50 per cent, compared to 40 per cent paid in the previous year.

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