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Alembic Ltd. - Intimation Under Regulation 30 Of SEBI (Listing Obligations And Disclosure Requirements) Regulations, 2015 - Update On The Composite Scheme Of Arrangement

| Updated on August 02, 2019 Published on August 02, 2019

We would like to inform that Honble National Company Law Tribunal, Ahmedabad Bench ["NCLT"] has sanctioned the Composite Scheme of Arrangement between Alembic Ltd and Shreno Ltd and Nirayu Pvt Ltd and their respective shareholders ["Scheme"].
A copy of the order of NCLT [Order], as uploaded on the website of NCLT, is enclosed herewith for your records.
In accordance with Clause 5.1 of the Scheme, eligible equity shareholders of Alembic Ltd whose name appears in the register of members as on the Record Date, shall be issued and allotted, 1 (one) 7% Non-Convertible Cumulative Redeemable Preference Shares-I by Shreno Ltd, as consideration for transfer and vesting of Demerged Undertaking 1 to Shreno Ltd, for every 1 fully paid up equity share of Rs. 2/- each held by them in Alembic Ltd.
The Scheme will become effective upon filing of the certified copy of Order with the Registrar of Companies, Gujarat. The same will be intimated to the Stock Exchanges in due course.

Pdf Link: Alembic Ltd. - Intimation Under Regulation 30 Of SEBI (Listing Obligations And Disclosure Requirements) Regulations, 2015 - Update On The Composite Scheme Of Arrangement

Source : BSE - www.bseindia.com

Published on August 02, 2019
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