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VIVIMED LABS LTD. - Outcome of Board Meeting
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14 Aug 2014
Vivimed Labs Ltd has informed BSE that the Board of Directors of the Company at its meeting held on August 13, 2014. inter alia, have approved/resolved/taken note of the following:&lt;br/&gt;&lt;br/&gt;1. Appointment of Mr. Vaidyanathan, as the Chief Financial Officer of the Company effective August 13, 2014.&lt;br/&gt;&lt;br/&gt;2. Scheme of Amalgamation (&quot;Scheme&quot;) of Klar Sehen Private Limited, Octtantis Nobel Labs Private Limited, Creative Healthcare Private Limited and Vivimed Labs (Alathur) Private Limited (collectively referred to as &quot;Transferor Companies&quot;) being 100% subsidiaries, with Vivimed Labs Limited (&quot;VLL&quot;).&lt;br/&gt;&lt;br/&gt;The salient features of the Scheme are as under:&lt;br/&gt;(a) Appointed Date shall be April 01,2014;&lt;br/&gt;(b) All assets and liabilities of the Transferor Companies would be transferred to VLL;&lt;br/&gt;(c) Given the Transferor Companies are 100% subsidiaries of VLL, no shares would be issued as consideration for the merger. Investments held by VLL in subsidiaries would stand cancelled&lt;br/&gt;&lt;br/&gt;The Scheme is subject to requisite approvals.
View all announcements for VIVIMED LABS LTD. Source: BSE India