Wanbury EGM approves merger of Pharmaceutical Products of India & Doctors Organic Chemicals

Wanbury Ltd has announced that the members at the Extra Ordinary General Meeting (EGM) of the Company held on October 17, 2006, have approved the following:

1. The Scheme of Merger of the Pharmaceutical Products of India Ltd with the Company.

2. The Board of Directors of the Company has been authorized to issue and allot Equity Shares & Warrants of the Company to the Members of the Pharmaceutical Products of India Ltd (PPIL) and Equity Shares & OFCDs of the Company to the Secured Creditors of the Pharmaceutical Products of India Ltd.

3. The Scheme of Merger of Doctors Organic Chemicals Ltd with the Company.

4. The Board of Directors of the Company has been authorized to issue and allot Equity Shares of the Company to the Members of Doctors Organic Chemicals Ltd.

Source : Equity Bulls

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