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Coimbatore, Sept. 24 Golden Tobacco Ltd’s board of directors, at its meeting held on September 24, has decided to de-merge tobacco and realty businesses into two separate companies and approved issue of one equity share in the new company for each share held in the existing company subject to necessary approvals.

The Madras Aluminium Co Ltd has said that in view of the recent changes in the global financial markets and investor feedback, an urgent meeting of the board of directors was convened on September 24 to review the proposed restructuring scheme approved in the meeting held on September 9. After deliberations, the board has decided not to pursue the proposed scheme. The company is committed to simplifying and streamlining the group’s corporate structure in the interest of all shareholders.

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