Dynamatic Technologies approves scheme of merger of JKM Dae Rim Automotive

Dynamatic Technologies Ltd has announced that the Board of Directors of the Company at its meeting held on June 08, 2007, has considered the following:

1. Payment of Interim Dividend for the year 2006-07 @ 20% on 41,93,560 Equity Shares of Rs.10/- each amounting to Rs 8,387,120/- to the eligible shareholders.

2. Scheme of Merger of JKM Dae Rim Automotive Ltd (a Subsidiary of the Company) with the Company (Holding Company).

The Board approved a swap ratio of 1 share of the Company for 3.5 shares of JKM Dae Rim Automotive Ltd.

In arriving at this swap ratio the Board considered the valuation suggested by Price Waterhouse Coopers which was 1 share of the Company for 3.3 shares of JKM Dae Rim Automotive Ltd.

The said swap ratio will be EPS-accretive to the shareholders of the Company.

Source : Equity Bulls

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