RPG Life Sciences Board to consider Scheme of Arrangement

RPG Life Sciences Ltd has announced that a meeting of the Board of Directors of the Company will be held on June 12, 2007 will consider the scheme of arrangement under sections 391 to 394 of the Companies Act, 1956. This scheme of arrangement seeks to separate the pharmaceutical business and investments (including loans and advances) in the subsidiary Company into two separate Companies. The scheme, if approved by the Board, would be subject to approval by the members and creditors of the Company, and also sanction by the Bombay High Court.

The stock closed the day at Rs.101, up by Rs.1.30 or 1.30%. The total traded quantity was 17477 compared to 2 week average of 32730. The stock hit an intraday high of Rs.101.95 and low of Rs.97.

Source : Equity Bulls

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