Coromandel Fertilisers Ltd announces ratio for Ficom Organics merger

Coromandel Fertilisers Ltd. has announced Exchange that:- 1) The Board of Directors of the Company at the Meeting held on October 17, 2006 have approved, (subject to the approval of the shareholders and the high Court of Judicature at Andhra Pradesh and Mumbai), a Scheme of Amalgamation for merger of M/s Ficom Organics Limited (Ficom) and M/s Rasilah Investments Limited (a wholly owned subsidiary Company of Ficom) with the Company. As per the Scheme, shareholders of Ficom will be entitled for 3 (three) Equity Shares of Coromandel Fertilisers Limited for every 11 (eleven) Equity Shares held by them of M/s Ficom Organics Limited. 2) The Board also approved a Fund Raising Proposal upto Rs.230 crore or its equivalent in any other Currency through issue of Equity/Equity Linked Securities at appropriate time and for this purpose would be seeking the approval of Members at an Extraordinary General Meeting of the Company.

Source : Equity Bulls

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