ULTRATECH CEMENT LTD. - Updates on Scheme of Arrangement
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| 12 Jun 2014 | |
| UltraTech Cement Ltd has informed BSE that The Scheme between Jaypee Cement Corporation Limited (JCCL) and the Company and its respective shareholders and creditors, for the acquisition of the cement unit of JCCL in Gujarat, comprising of an integrated cement unit at Sewagram and grinding unit at Wanakbori has been approved by the Honble High Court at Bombay and the Honble High Court of Allahabad. The Scheme has also been approved by the Securities and Exchange<br/>Board of India (SEBI) in terms of the SEBI Circular No.CIR/CFD/DIL/5/2013 dated February 04, 2013 and Circular No. CIR/CFD/DIL/8/2013 dated May 21, 2013.<br/><br/>The Demerger Implementation Committee constituted by the Board of Directors to exercise all powers and discharge all functions of the Board for effecting the demerger in terms of the Scheme, at its meeting held on June 12, 2014, declared the Scheme effective from June 12, 2014, which is the Effective Date.<br/><br/>Further, the Demerger Implementation Committee has also allotted 114,382 equity shares of the Company of Rs.10/- each credited as fully paid-up to the equity and preference share holders of JCCL in terms of the Scheme. | |
| View all announcements for ULTRATECH CEMENT LTD. | Source: BSE India |
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