Updates on Scheme of Amalgamation

Hindoostan Spinning Weaving Mills Ltd has informed BSE that the Honble High Court of Judicature at Bombay vide its Order dated April 01, 2011 passed the Scheme of Amalgamation of The Hindoostan Spinning and Weaving Mills Limited with The Sirdar Carbonic Gas Company Limited.

The salient features of the Scheme of Amalgamation as approved by the Honble High Court of Bombay along with the synergies on consolidation of the two businesses are as follows:

1. The Appointed date is April 01, 2010.

2. The Exchange Ratio is 8 (Eight) Equity Shares of the Transferee company (Sirdar) of Rs. 10 (Rupees Ten) each fully paid up for every 100 (One Hundred) Equity Shares of Rs. 10 (Rupees Ten) each fully paid up held in the Share Capital of the Transferor Company (Hindoostan).

3. The company will fix the record date for ascertaining the eligibility of Shareholders for receiving shares of the Transferee Company (Sirdar) in lieu of their holding in the Transferor Company (Hindoostan) in consultation with
Stock Exchange.

Source : BSE - >www.bseindia.com

Published on May 10, 2011
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