RPL shareholders approve merger with RIL
Mukesh Ambani-led Reliance Petroleum (RPL) said its shareholders and creditors have approved the merger of RPL with parent firm Reliance Industries (RIL).
By PTI |
MUMBAI: Mukesh Ambani-led Reliance Petroleum (RPL) said its shareholders and creditors have approved the merger of RPL with parent firm Reliance Industries (RIL).
In a court convened meeting held at Jamnagar on April 9 involving equity shareholders, secured and unsecured creditors of Reliance Petroleum, 99.745 per cent of shareholders present voted in favour of the merger.
RPL said in a statement "99.745 per cent of shareholders present in person/ proxies, representing 99.9999 per cent of the total value of the equity shares held by them, voted in favour of the Scheme of Amalagamation."
While all the secured and unsecured creditors present voted in favour of the merger, shareholders representing 0.0001 per cent of the total value of shares voted against the scheme, it added.
Reliance Petroleum is a subsidiary of Reliance Industries and was formed for setting up a greenfield petroleum refinery and polypropylene plant at a Special Economic Zone at Jamnagar in Gujarat.
RIL owns and operates the world's largest refining complex at Jamnagar, which can process 1.24 million barrels of crude per day.
Mumbai, Apr 13 (PTI) Mukesh Ambani-led Reliance Petroleum (RPL) today said its shareholders and creditors have approved the merger of RPL with parent firm Reliance Industries (RIL).
In a court convened meeting held at Jamnagar on April 9 involving equity shareholders, secured and unsecured creditors of Reliance Petroleum, 99.745 per cent of shareholders present voted in favour of the merger.
RPL said in a statement "99.745 per cent of shareholders present in person/ proxies, representing 99.9999 per cent of the total value of the equity shares held by them, voted in favour of the Scheme of Amalagamation."
Reliance Petroleum is a subsidiary of Reliance Industries and was formed for setting up a greenfield petroleum refinery and polypropylene plant at a Special Economic Zone at Jamnagar in Gujarat.
In a court convened meeting held at Jamnagar on April 9 involving equity shareholders, secured and unsecured creditors of Reliance Petroleum, 99.745 per cent of shareholders present voted in favour of the merger.
RPL said in a statement "99.745 per cent of shareholders present in person/ proxies, representing 99.9999 per cent of the total value of the equity shares held by them, voted in favour of the Scheme of Amalagamation."
While all the secured and unsecured creditors present voted in favour of the merger, shareholders representing 0.0001 per cent of the total value of shares voted against the scheme, it added.
Reliance Petroleum is a subsidiary of Reliance Industries and was formed for setting up a greenfield petroleum refinery and polypropylene plant at a Special Economic Zone at Jamnagar in Gujarat.
RIL owns and operates the world's largest refining complex at Jamnagar, which can process 1.24 million barrels of crude per day.
ADVERTISEMENT
RPL shareholders approve merger with RIL Mumbai, Apr 13 (PTI) Mukesh Ambani-led Reliance Petroleum (RPL) today said its shareholders and creditors have approved the merger of RPL with parent firm Reliance Industries (RIL).
In a court convened meeting held at Jamnagar on April 9 involving equity shareholders, secured and unsecured creditors of Reliance Petroleum, 99.745 per cent of shareholders present voted in favour of the merger.
RPL said in a statement "99.745 per cent of shareholders present in person/ proxies, representing 99.9999 per cent of the total value of the equity shares held by them, voted in favour of the Scheme of Amalagamation."
ADVERTISEMENT
While all the secured and unsecured creditors present voted in favour of the merger, shareholders representing 0.0001 per cent of the total value of shares voted against the scheme, it added. Reliance Petroleum is a subsidiary of Reliance Industries and was formed for setting up a greenfield petroleum refinery and polypropylene plant at a Special Economic Zone at Jamnagar in Gujarat.
ADVERTISEMENT
RIL owns and operates the world's largest refining complex at Jamnagar, which can process 1.24 million barrels of crude per day.Too busy to trade in stocks? Invest in Mutual Funds with ET Money!
Bookmark or read stories offline -
Download ET Markets APP
Download ET Markets APP
ADVERTISEMENT
