RIL-RPL merger: RIL shareholders vote result tomorrow
The result of the voting to consider the Reliance Industries-Reliance Petroleum merger will be announced on Monday, a Reliance spokesperson said.
By PTI |
MUMBAI: The result of the voting to consider the Reliance Industries-Reliance Petroleum merger will be announced on Monday, a Reliance spokesperson said.
Equity shareholders, secured and unsecured creditors of Reliance Industries took part and voted at the court-convened extra-ordinary general meeting (EGM) of Reliance Industries on Saturday.
Justice B N Srikrishna (Retd) was appointed Chairman for the meeting.
On April 9, equity shareholders, secured and unsecured creditors of Reliance Petroleum would meet at an extra-ordinary general meeting to be held in Jamnagar, the spokesperson said.
The Boards of the two companies had earlier approved the all-share merger deal, which entails shareholders getting one share of RIL for every 16 shares held in RPL.
Following the share-swapping, RIL would have 3.7- million shareholders and the promoters holdings, including that of its Chairman Mukesh Ambani, will fall by 2 per cent to 47 per cent. RIL is holding 75.38 per cent in RPL which would be cancelled on absorption, the EGM notice said.
Equity shareholders, secured and unsecured creditors of Reliance Industries took part and voted at the court-convened extra-ordinary general meeting (EGM) of Reliance Industries on Saturday.
Justice B N Srikrishna (Retd) was appointed Chairman for the meeting.
On April 9, equity shareholders, secured and unsecured creditors of Reliance Petroleum would meet at an extra-ordinary general meeting to be held in Jamnagar, the spokesperson said.
The Boards of the two companies had earlier approved the all-share merger deal, which entails shareholders getting one share of RIL for every 16 shares held in RPL.
Following the share-swapping, RIL would have 3.7- million shareholders and the promoters holdings, including that of its Chairman Mukesh Ambani, will fall by 2 per cent to 47 per cent. RIL is holding 75.38 per cent in RPL which would be cancelled on absorption, the EGM notice said.
Start a SIP with as low as ₹500 with ET Money App!
Download
The Economic Times News App for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.
The Economic Times News App for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.
ADVERTISEMENT
