Anil Chemicals to effect share split, de-merger
Anil Chemicals & Industries will effect a capital reduction as per the scheme sanctioned by BIFR, wherein the face value of its equity shares will be halved from Rs 10 per share to Rs 5 per share.
By INDIATIMES NEWS NETWORK |
MUMBAI: Anil Chemicals & Industries will effect a capital reduction as per the scheme sanctioned by BIFR, wherein the face value of its equity shares will be halved from Rs 10 per share to Rs 5 per share.
As a result, the total share capital will be reduced from Rs 6.90 crore to Rs 3.45 crore and the accumulated losses will decrease by Rs 3.45 crore.
After the capital reduction, the paid up capital will be 69,08,669 shares of Rs 5 each amounting to Rs 3,45,43,345 against the existing 69,08,669 shares of Rs 10 each amounting to Rs 6,90,86,690.
The chemical units situated at Panoli in Gujarat, Waidhan in Madhya Pradesh and Jharsugada in Orissa will be de-merged into a new company. The existing company will consist of the units situated at Pharola, Nandrabad and Chikalthana all situated in Aurangabad, Maharashtra.
The cut off date is April 1, 2007 and the effective date is November 15, 2007. The holder of one share of Rs 5 each of the existing company will get one share of Rs 4 each in the existing company and 0.1 share of Rs 10 each in the resulting company to be formed.
Consequent to capital reduction and de-merger, existing 100 shares of Anil Chemicals & Industries will be affected as under:
Existing holding of shares: 100 shares of Rs 10 each
Affect after capital reduction: 100 shares of Rs 5 each
Affect of de-merger (final holding)
Holding in the existing company: 100 shares of Rs 4 each
Holding in the resulting company: 10 shares of Rs 10 each
As a result, the total share capital will be reduced from Rs 6.90 crore to Rs 3.45 crore and the accumulated losses will decrease by Rs 3.45 crore.
After the capital reduction, the paid up capital will be 69,08,669 shares of Rs 5 each amounting to Rs 3,45,43,345 against the existing 69,08,669 shares of Rs 10 each amounting to Rs 6,90,86,690.
The chemical units situated at Panoli in Gujarat, Waidhan in Madhya Pradesh and Jharsugada in Orissa will be de-merged into a new company. The existing company will consist of the units situated at Pharola, Nandrabad and Chikalthana all situated in Aurangabad, Maharashtra.
The cut off date is April 1, 2007 and the effective date is November 15, 2007. The holder of one share of Rs 5 each of the existing company will get one share of Rs 4 each in the existing company and 0.1 share of Rs 10 each in the resulting company to be formed.
Consequent to capital reduction and de-merger, existing 100 shares of Anil Chemicals & Industries will be affected as under:
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Existing holding of shares: 100 shares of Rs 10 each
Affect after capital reduction: 100 shares of Rs 5 each
Affect of de-merger (final holding)
Holding in the existing company: 100 shares of Rs 4 each
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Holding in the resulting company: 10 shares of Rs 10 each
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