Mcdowell & Company allots 34,010,521 shares on amalgamation

Mcdowell & Company Ltd has announced that pursuant to the Scheme sanctioned by the Hon'ble High Courts of Karnataka and Bombay, the Board of Directors of the Company, at its meeting held on November 06, 2006 has allotted 34,010,521 Equity Shares of Rs 10 each fully paid up and 7,750,000 9% Non-Cumulative Non-Convertible Redeemable Preference Shares of Rs 10 each fully paid up, in terms of exchange ratios mentioned in the Scheme, as under:

A. Equity Shares

Details of Allotment

(a) Issue and allotment of Equity Shares of Rs 10 each fully paid up, to the Equity Shareholders of:

1. Herbertsons Ltd - 3,117,209 equity shares
2. Triumph Distillers & Vintners Pvt Ltd - 2,075,000 equity shares
3. Baramati Grape Industries Ltd - 337,780 equity shares
4. United Distillers India Ltd - 360,000 equity shares
5. Shaw Wallace Distilleries Ltd - 28,112,971 equity shares

(b) Issue and Allotment of Equity Shares of Rs 10/- each fully paid up in respect of fractional entitlement - 7561 equity shares

B. Preference Shares

- Issue and allotment of 9% Non-Cumulative Non-Convertible Redeemable Preference Shares of Rs 10 each fully paid up to the Shareholders of Shaw Wallace Distilleries Ltd - 7,750,000

Post-allotment, the paid up share capital of the Company stands Rs 1,022,319,300 as under:

Description of Shares : Amount (Rs)

- 94,481,930 Equity shares of Rs 10 each fully paid up - Rs 944,819,300

- 7,750,000 9% Non-Cumulative Non-Convertible Redeemable Preference Shares of Rs 10 each fully paid up - Rs 77,500,000

In terms of the Scheme, the equity shares of Phipson Distillery Ltd, United Spirits Ltd and McDowell International Brands Ltd stood cancelled without any exchange of equity shares of the Company as the entire paid up equity share capital of these Companies were held either by the Company or one of the Transferor Companies.

Source : Equity Bulls

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