Flex Industries approaches High Court for approal to the Scheme of Arrangement

Flex Industries Ltd has announced that the Company alongwith Flex Engineering Ltd (FEL), FCL Technologies & Products Ltd (FCL) and Flex Securities Ltd (FSL-Unlisted Company) has approached the Hon’ble Delhi High Court through a joint application seeking its approval to a Scheme of Arrangement, inter-alia, involving the following:

1. Amalgamation of Flex Securities Ltd with Flex Engineering Ltd;

2. Amalgamation of Flex Engineering Ltd (post amalgamation of Flex Securities Ltd with Flex Engineering Ltd) and FCL Technologies & Products Ltd with the Company;

Once the Scheme is approved and effective, the Company would be issuing approximately 10680556 number of equity shares to the shareholders of Flex Engineering Ltd on a swap ratio of 2:3 and approximately 1773543 number of equity shares to the shareholders of FCL Technologies & Products Ltd on a swap ratio of 1:3.

Source : Equity Bulls

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