Keynote Corporate Updates on approval of scheme of amalgamation

Keynote Corporate Services Ltd has announced that:

1. The Hon'ble High Court, Allahabad has passed an order dated December 21, 2006 on Company Petition No. 34 of 2006 "Approving Scheme of Amalgamation" of Galaxy Leasing Ltd., (one of the transferor Company) with the Company.

2. The Hon'ble High Court, Bombay has passed an order dated March 09, 2007 on Company Petition No. 758, 759, 760, 761 and 762 of 2006 "Approving Scheme of Amalgamation" of Cobal Investment Company Ltd, West Coast Lighterage Company Pvt Ltd, Keynote Finstock Ltd, Plethora Investments Company Ltd, (four of the transferor Companies) with the Company.

3. The Hon'ble High Court, Guwahati has passed an order dated March 19, 2007 on Company Petition No. 1 of 2007 "Approving Scheme of Amalgamation" of Starline Ispat and Alloys Ltd., (one of the transferor Company) with the Company.

Pursuant to the scheme of amalgamation, 14,51,702 equity shares of Rs 10/- each held by group transferor Companies are being transferred to the proposed trust (i.e. Keynote Trust) and 77,170 equity shares of Rs 10/- each are being issued to the shareholders of the group transferor Companies. The scheme of amalgamation do not affect the public shareholders.

Pursuant to the said scheme of amalgamation, the equity share capital of the Company is being increased from 69,41,169 equity shares of Rs 10/- each aggregating to Rs 694.12 lacs to 70,18,339 equity shares of Rs 10/- each aggregating to Rs 701.83 lacs.

Source : Equity Bulls

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