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PVR LTD. - Outcome of Board Meeting
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04 Sep 2015
PVR Ltd has informed BSE that the Board of Directors of the Company at its meeting held on September 04, 2015, inter alia, has considered and approved the Scheme of Amalgamation under Section 391 to 394 and any other applicable provisions of Companies Act, 1956 and corresponding Sections of the Companies Act, 2013 (as and when such corresponding Sections are notified in the Official Gazette by the Central Government) between Bijli Holdings Private Limited (&apos;Bijli Holdings&apos;) based on the recommendation of the Audit Committee.&lt;BR&gt;&lt;BR&gt;The purpose of this amalgamation is to simplify the shareholding structure of PVR and reduction of shareholding tiers and to demonstrate the Promoters direct commitment to and engagement with PVR.&lt;BR&gt;&lt;BR&gt;Bijli Holdings Private Limited is part of the Promoter Group of PVR. Pursuant to the proposed amalgamation of Bijli Holdings with PVR, post-amalgamation paid-up capital of the Company will remain the same and there shall be no dilution for any shareholders including public shareholders. The individual Promoters will directly hold shares in PVR and there will be no change in the total Promoters shareholding of PVR. The total Promoters shareholding is 26.33% of PVR&apos;s Paid-Up Equity Share Capital and Promoters will continue to hold the same percentage of shares in PVR even after this proposed amalgamation.
View all announcements for PVR LTD. Source: BSE India