Source - RNS
RNS Number : 9175J
Ashok Leyland Ld
15 September 2016
 

 

September 14, 2016

 

Secretary, London Stock Exchange

(Company Announcement Office)                                                           

Dear Sirs,

 

Outcome of the Board Meeting held on September 14, 2016 - Disclosure under Regulation 30 of the SEBI (Listing Obligation & Disclosure Requirements) Regulations, 2015 read with SEBI Circular No.CIR/CF/CMD/4/2015 dated September 9, 2015

 

We wish to inform that the Board of Directors of the Company at their meeting held today approved the Scheme of Amalgamation of Hinduja Foundries Limited (Transferor Company)   with Ashok Leyland Limited (Transferee Company) under Sections 391 to 394 of the Companies Act, 1956 and the corresponding provisions of the Companies Act, 2013 as applicable with the appointed date of October 1, 2016. The Scheme is subject to the approval of the shareholders, Hon'ble High Court of Judicature at Madras and all other regulatory approvals.

 

The Board also approved the exchange ratio in the following manner:

(i)    100 (one hundred) equity shares of Rs.10/- each fully paid of Hinduja Foundries Limited (Transferor Company) will get 40 (forty) equity shares of Re.1/- each fully paid of Ashok Leyland Limited (Transferee Company).

(ii)   1,000 (one thousand) 2008 series GDRs of Hinduja Foundries Limited (Transferor Company) will get 133 (one hundred thirty three) equity shares of Re.1/- each fully paid of Ashok Leyland Limited (Transferee Company).

(iii)  1 (one) 2016 series GDRs of Hinduja Foundries Limited (Transferor Company) will get 4,800 (four thousand eight hundred) equity shares of Re.1/- each fully paid of Ashok Leyland Limited (Transferee Company).

 

We request you to please take the same on record.

 

Thanking you,

 

Yours faithfully,

for ASHOK LEYLAND LIMITED

 

 

N Ramanathan

Company Secretary

 


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