Champagne Vineyards Shareholders approves Scheme of Arrangement

Champagne Vineyards Ltd has announced that the Equity Shareholders of the Company at their Court Convened Meeting held on June 09, 2007, have approved the Scheme of Arrangement between Indage Hotels Ltd for demerger and transfer of its Hotel Business Undertaking into the Company, the resulting Company and Between the Company, Demerging / transferor Company for demerger / transfer of its Agriculture / Viticulture Business into Indage Vineyards Pvt Ltd, with requisite majority.

The stock was trading at Rs.47.10, down by Rs.1.95 or 3.98%. The stock hit an intraday high of Rs.51.50 and low of Rs.47.10. The total traded quantity was 250 compared to 2 week average of 625.

Source : Equity Bulls

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