Rohit Pulp accepts merger of Marathon Realty Ltd with the company

Rohit Pulp & Paper Mills Ltd has announced that the Board of Directors of the Company at its meeting held on March 29, 2007, has accepted the proposal for the merger of Marathon Realty Ltd with the Company with effect from April 01, 2006.

As per the terms of the merger scheme, the equity shares of the Company will be derated to 5% of its present paid up value and the shareholders of Marathon Realty Ltd would receive 5 equity shares of the Company after derating for every equity share held by them.

Shares of Rohit Pulp were trading at Rs.10.19, up by Re.0.48 or 4.94%.

Source : Equity Bulls

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