Demerger of Borosil Glass Works Ltd
Trading Members of the Exchange are hereby informed that pursuant to the Scheme of Arrangement (for Demerger) approved by the Hon’ble National Company Law Tribunal, Mumbai Bench (NCLT), Borosil Glass Works Ltd.. has fixed the Record Date for the purpose of determining entitlement of the shareholders of the Company, as per details given below:
COMPANY NAME & CODE Borosil Glass Works Ltd. (502219)
RECORD DATE 09/03/2020
PURPOSE
As per Scheme of Arrangement sanctioned by the Hon’ble National Company Law Tribunal, Mumbai Bench (NCLT), between, Borosil Glass Works Ltd. (Demerged Company) and Borosil Limited (Resulting Company) and Their Respective Shareholders and Creditors: -
Upon the coming into effect of the aforesaid Scheme and in consideration of the transfer of the Scientific & Industrial products & Consumer Products Business of Borosil Glass Works Ltd. Into Borosil Limited;
Borosil Limited shall issue and allot Equity Shares to the shareholders of Borosil Glass Works Limited in the following proportion:
“1 fully paid up an equity share of Re.1/- each fully paid up of Borosil Limited shall be issued and allotted for every 1 fully paid-up an equity share of Re. 1/- each fully paid upheld in Borosil Glass Works Ltd.”
EX-ENTITLEMENT FROM DATE & SETT. NO. 06/03/2020 DR-233/2019-2020
Note:
Pursuant to SEBI Circular No. SEBI/Cir/ISD/1/2010 dated November 2, 2010,
Trading in the equity shares of the aforesaid company shall be transferred from ‘B’ group to ‘T’ group w.e.f. March 06, 2020, and pursuant to SEBI Circular No. CIR/MRD/DP/01/2012 dated January 20, 2012; the aforesaid scrip shall be a part of Call Auction in Pre-open Session on March 06, 2020.
Trading in the equity shares of the aforesaid company shall be transferred from ‘B’ group to ‘T’ group w.e.f. March 06, 2020, and pursuant to SEBI Circular No. CIR/MRD/DP/01/2012 dated January 20, 2012; the aforesaid scrip shall be a part of Call Auction in Pre-open Session on March 06, 2020.
Subject to compliance with requisite formalities, the shares of the Resulting company i.e. Borosil Limited will be listed on BSE Limited.
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