Around 1996
1:12 share ratio for GKW merger with Powmex Steels
The amalgamation of Powmex Steels Ltd
with GKW Ltd envisages a swap ratio of one equity share of Rs. 10 each
of GKW for every 12 equity shares of Rs. 10 each of Powmex. FIs have, in
principle, approved the proposed amalgamation and agreed to the
conversion of interest accrued up to September 30, 1995 in respect of
loans advanced by them to Powmex. Then, shares issued by Powmex to FIs
will be subject to the swap ratio of one GKW share of Rs. 10 each for
every 12 shares of Rs. 10 each of Powmex.
Source
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Around 2009 GKW issues shares of Graphite India ( ratio 1 Graphite share for every 3 GKW shares and reduction in GKW capita
Gkw Ltd has informed the Exchange that
the Company has obtained a certified copy of the Order of the Hon''ble
High Court at Calcutta on 18th June, 2009 approving the Scheme of
Arrangement between GKW Limited (GKW) and Graphite India Limited (GIL)
and their respective Shareholders for demerger of Powmex Steels
Undertaking of the Company to Graphite India Limited. The certified copy
of the Order of the High Court has already been filed with The
Registrar of Companies on June 19, 2009. Further the Company has
informed that the company has decided to fix the Record date as July 01,
2009 for the following purposes: (1) Allotment of Shares by GIL: GIL
shall issue and allot to the shareholders of GKW whose names shall
appear in the Register of Members as on the Record Date one (1) Equity
Share of Rs.2/- each in GIL, credited as fully paid up for every Three
(3) Ordinary Shares of Rs.10/- each held by them in GKW. (2) Reduction,
reorganisation and consolidation of Share Capital of GKW: The Ordinary
Shares of Rs 10/- each shall, consequent to the demerger of Powmex
Steels Undertaking and with effect from the appointed date stand reduced
to Re.1/- each fully paid-up by cancellation of the paid-up share
capital to the extent of Rs.9/- per ordinary share upon each of the
existing fully paid-up ordinary shares of Rs.10/- each held by the
members of the company as on the Record Date in the share capital of the
Company and simultaneously with such reduction, every resulting 10
ordinary shares of Re.1/- each held by the members of the Company as on
the Record Date shall stand reorganized and consolidated into 1 Ordinary
share of Rs.10/- each. The details of the same shall be available on
the NSE website (http://www.nseindia.com) under: Corporates > Latest
Announcements and on the Extranet Server (/Common/Corporate
Announcements).
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