Dabur India Ltd (DIL) has announced that the Board of Directors of the Company at its meeting held on October 26, 2009, inter alia, has considered and approved the Scheme for Amalgamation of Fem Care Pharma Ltd. ("FCPL or Transferor Company") with DIL as per terms and conditions mentioned in the Scheme of Amalgamation ("the Scheme") under the provisions of Sections 391 to 394 of the Companies Act, 1956.
The Appointed Date for merger under the Scheme is April 01, 2009. In consideration of the Amalgamation of FCPL with DIL, the Company shall allot 5 (five) Equity Share(s) of the face value of Re. 1 each credited as fully paid-up, for every 1 (one) Equity Share of the face value of Rs. 10 each held by the shareholders of FCPL.
As a result of the merger, the portion of share capital of FCPL held by DIL (i.e., 32,52,476 equity shares) shall stand cancelled and there would be no issuance of shares by the DIL in relation to such shares.
The Scheme is subject to requisite consent / approval of the shareholders, lenders, creditors of the Company, and sanction of the Hon'ble High Court of Judicature at Delhi and Hon'ble High Court of Judicature at Bombay and the permission or approval of any other statutory or regulatory authorities, which by law may be necessary for the implementation of the Scheme.
The Dabur India stock closed the day at Rs.720, down by Rs.4 or 0.55%. The stock hit an intraday high of Rs.749.50 and low of Rs.690.
The total traded quantity was 1465 compared to 2 week average of 89.
The Dabur India stock closed the day at Rs.154.40, up by Rs.3.35 or 2.22%. The stock hit an intraday high of Rs.156.20 and low of Rs.149.10.
The total traded quantity was 448025 compared to 2 week average of 116817.