Innovative Marine to allot shares to Amalgam Foods shareholders

Innovative Marine Foods Ltd has announced that March 30, 2007 was the Record Date for the merger of "Amalgam Foods and Beverages Ltd" an associate Company with the Company.

The exchange ratio approved is as under:

Members of "Amalgam Foods and Beverages Ltd" holding 1 share of face value of Rs 10/- each on the "Record Date" will be allotted 1 share of face value of Rs 10/- each of the Company.

Shares of Innovative Marine are not traded in the stock exchanges as the company is undergoing capital reduction as per BIFR order.

Source : Equity Bulls

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