| Sagar Cements Ltd has informed BSE that pursuant by an Order made on the January 19, 2011 in the above Company Application, the Hon`ble High Court of Andhra Pradesh at Hyderabad has directed that a meeting of the Equity Shareholders of the Applicant Company will be on March 07, 2011., for the purpose of considering, and If thought fit, approving, with or without modification (s), the arrangement embodied in the Scheme of Arrangement between Amareswari Cements Ltd, the Transferor Company and Sagar Cements Ltd, the Transferee Company and their respective Shareholders.
Sagar Cements Ltd has informed BSE that the Scheme of Arrangement for the proposed merger of Amareswari Cements Ltd with Sagar Cements Ltd has been approved without any modification by the Equity Shareholders and Unsecured Creditors of the respective Companies at their meetings held on March 07, 2011 under the Chairman appointed by the Hon`ble High Court of Andhra Pradesh for the purpose.
The above Scheme of Arrangement is subject to the confirmation in due course by the Hon`ble High Court of Andhra Pradesh.
(As Per BSE Announcement Dated on 07.03.2011) |