TANEJA AEROSPACE and AVIATION LTD. - Outcome of Board Meeting
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| 09 Oct 2014 | |
| Taneja Aerospace and Aviation Ltd has informed BSE that the Board of Directors of the Company at its meeting held on October 09, 2014, has approved the Scheme of Arrangement between Taneja Aerospace and Aviation Limited (TAAL) and TAAL Enterprises Limited ('TEL, a wholly owned subsidiary of the Company), where the charter business and investments in First Airways Inc. and TAAL Tech India Private Limited (subsidiaries of the Company) would be demerged into TEL. The Appointed Date of the Scheme is October 01, 2014. The shareholding of TEL post demerger would be the same as TAAL.<br/><br/>The Share Swap Ratio for the demerger is as under:<br/><br/>'1 (One) fully paid equity shares of Face Value INR 10 (Rupees Ten) each of TEL for every 8 (Eight) fully paid equity shares of INR 5 (Rupees Five) each held in TAAL.'<br/><br/>The Scheme would require the approvals of the shareholders of the Company, Madras High Court and other regulatory authorities. | |
| View all announcements for TANEJA AEROSPACE and AVIATION LTD. | Source: BSE India |
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