Jubilant Organosys Ltd has informed BSE that the Board of Directors of the Company at its meeting held on July 08, 2010, approved a Scheme of Amalgamation and Demerger among Jubilant Organosys Ltd. ('Jubilant Organosys'), Speciality Molecules Ltd. (SML), Pace Marketing Specialities Ltd. (PMSL) and Jubilant Industries Ltd. ('Jubilant Industries') and their respective Shareholders & Creditors.
The Scheme envisages the following:
Demerger of Agri & Performance Polymer Divisions
Demerger of (i) Agri Products Division and (ii) Performance Polymer Division (collectively called the Demerged Undertaking) to Jubilant Industries, presently a wholly owned subsidiary of Jubilant Organosys.
Jubilant Industries will issue 1 equity share of Rs. 10/- for every 20 equity shares of Re.1 each held by a Shareholder in Jubilant Organosys as on the Demerger Record Date.
The shares of Jubilant Industries will be listed on BSE and NSE.
The proposed Scheme is subject to approval of Members, sanction of Hon'ble High Court at Allahabad and other necessary permissions and approvals as may be required.
Jubilant Organosys Ltd has informed BSE that the following meetings were held on September 24, 2010 as per the Order of the Hon'ble High Court of Judicature at Allahabad:
1. Equity Shareholders of Jubilant Organosys Ltd;
2. Secured Creditors of Jubilant Organosys Ltd;
3. Unsecured Creditors of Jubilant Organosys Ltd
4. Unsecured Creditors of Speciality Molecules Ltd; and
5. Equity Shareholders of Pace Marketing Specialities Ltd
In the above meetings the Equity Shareholders / Creditors have approved the Scheme of Amalgamation and Demerger among Jubilant Organosys Ltd, Speciality Molecules Ltd, Pace Marketing Specialities Ltd and Jubilant Industries Ltd under sections 391/394 of the Companies Act, 1956.
(As Per BSE Announcement Website dated on 27.09.2010)
Jubilant Life Sciences Ltd has informed BSE that the Hon'ble High Court of Judicature at Allahabad vide order dated October 28, 2010 received on November 02, 2010, has sanctioned the Scheme of Amalgamation & Demerger between Jubilant Life Sciences Ltd. (formerly Jubilant Organosys Ltd.); Speciality Molecules Ltd, Pace Marketing Specialities Ltd. & Jubilant Industries Ltd.
The Company is awaiting Hon'ble High Court's Order in Form No.42 and will thereafter file certified copies of both Orders with Registrar of Companies. The Effective Date of the Scheme will be the date on which the said certified copies of the Orders are filed with the Registrar of Companies.
(As Per BSE Announcement Dated on 01.10.2010)
With reference to the earlier announcement regarding the Scheme of Amalgamation and Demerger among Jubilant Life Sciences Ltd., Speciality Molecules Ltd., Pace Marketing Specialities Ltd. and Jubilant Industries Ltd. has been filed with Registrar of Companies and has become effective from November 15, 2010, Jubilant Life Sciences Ltd has now informed BSE that, as envisaged in the Scheme, the Company has on November 18, 2010 allotted 5,01,364 Equity Shares of Re. 1 each to the shareholders of Pace Marketing Specialities Ltd.
(As Per BSE Announcement Dated on 18.11.2010)
SUB. :- Scheme of Amalgamation & Demerger of Jubilant Life Sciences Ltd. (Scrip Code 530019)
Trading Members of the Exchange are hereby informed that, Jubilant Life Sciences Ltd. has fixed the Record Date for the purpose of determining entitlement to the shareholders of the company pursuant to the Scheme of Amalgamation & Demerger of the company.
COMPANY NAME CODE
Jubilant Life Sciences Ltd.
(530019)
RECORD DATE
26.11.2010
PURPOSE
Scheme of Amalgamation & Demerger: -
Demerger of the Agri Products Division, Performance Polymer Division and IMFL Division of Jubilant Life Sciences Limited into Jubilant Industries Ltd (JIL).
Upon the Scheme coming into effect and pursuant to the demerger and vesting of the Agri Products Division, Performance Polymer Division and IMFL Division to JIL, JIL shall issue and allot to the shareholders of Jubilant Life Sciences Ltd, in the ratio of 1 (ONE) equity share of Rs.10/- each in JIL, credited as fully paid up for every 20 (TWENTY) equity shares of Re.1/- each held by them in Jubilant Life Sciences Ltd.
EX-ENTITLEMENT FROM DATE & SETT. NO.
25/11/2010 DR-169/2010- 2011
Trading Members of the Exchange are requested to take note of it.
(As Per BSE Notice Dated on 19.11.2010)
Jubilant Life Sciences Ltd has informed BSE that as per the Scheme, Jubilant Industries Ltd. at the meeting of their Board of Directors held on November 26, 2010, has allotted 79,64,056 equity shares of Rs. 10 each as fully paid up, to the shareholders of Jubilant Life Sciences Ltd. in the ratio of 1 (One) equity share of Rs. 10 each of Jubilant Industries Ltd., for every 20 (twenty) equity shares of Re. 1 each held in Jubilant Life Sciences Ltd.
With reference to the earlier announcement dated November 29, 2010 regarding Allotment of equity shares, Jubilant Life Sciences Ltd has now informed BSE that, in the said announcement, inadvertently the Board Meeting date was mentioned as 'November 26, 2010' instead of 'November 27, 2010'. The correct date of allotment is November 27, 2010. In this regard, the revised content of the letter is as under:
'as per the Scheme, Jubilant Industries Ltd. at the meeting of their Board of Directors held on November 27, 2010, has allotted 79,64,056 equity shares of Rs. 10 each as fully paid up, to the shareholders of Jubilant Life Sciences Ltd. in the ratio of 1 (One) equity share of Rs. 10 each of Jubilant Industries Ltd., for every 20 (twenty) equity shares of Re. 1 each held in Jubilant Life Sciences Ltd.'
(As Per BSE Announcement Website dated on 29.11.2010)
Jubilant Life Sciences Ltd has informed BSE regarding a press release dated December 01, 2010 titled 'Jubilant Life Sciences (JLL) demerges its Agri & Performance Polymers Business to Jubilant Industries (JIL)'
Demerged Entity
The Court has sanctioned the Scheme of Amalgamation and Demerger. The appointed date of the demerger is April 01, 2010. The de-merged entity will have a mirror-shareholding pattern to that of Jubilant Life Sciences Limited. November 26, 2010 was fixed as Record Date for purposes of determining the entitlement of Members of Jubilant Life Sciences Limited, who are entitled to the equity shares of Jubilant Industries Limited, in share exchange ratio of 1 (One) equity share of Rs 10 each of JIL for every 20 (Twenty) equity shares of Re. 1 each held in Jubilant Life Sciences Limited. JIL, on Nov 27, 2010, has allotted 7,964,056 equity shares of Re 10 each to the JLL shareholders. Its capital now stands at Rs. 8.01 crore. JLL shares will be listed on BSE and NSE. The shares of Jubilant Life Sciences Limited would continue to trade on the bourses.
Jubilant Industries Ltd is a leading Agri & Performance Polymers company offering a diversified portfolio including a wide range of Crop nutrition, growth and protection Agri products and Performance Polymers products comprising Consumer Products like adhesives, wood finishes; Application Polymers like emulsions, food polymers and Latex such as vinyl pyridine, SBR and NBR latex for the automotive industry.
Jubilant Industries enjoys leadership position in each of its businesses
Agri Products - Amongst Top 3 brands in India for Single Super Phosphate fertilizer and a significant agro nutrient player
Consumer Products - Consumer brand Jivanjor is the 2nd largest brand in India in consumer adhesives and a significant player in the Indian wood finishes market
Major player in the industrial adhesives market in India catering to packaging, lamination and other specialized applications
Food Polymers - No.1 in India and globally No. 3 for PVA in solid form for chewing gum base
VP Latex - No.1 in India and amongst the top 3 players globally for Vinyl Pyridine Latex for automobile tyres
The Companys success so far in this segment is an outcome of its strategic vision to attain leadership position in each of its businesses. As Jubilant Industries Ltd., the Company will continue to cater to the needs of its customers through good quality services and products being manufactured at its state of the art manufacturing plants at Gajraula [in Uttar Pradesh], Kapasan [in Rajasthan], Nira [in Maharashtra], Samlaya [in Gujarat] and Sahibabad [in Uttar Pradesh] through its experienced people resources, spread across the country.
Jubilant Industries Ltd will be run by professionals under the leadership of Mr Ananda Mukherjee, CEO, based out of the Corporate office at NOIDA, under overall guidance of the eminent Board of Directors namely, Mr. Hari S. Bhartia, Mr. Priyavrat Bhartia, Mr. Ananda Mukherjee, Mr. Ghanshyam Dass, Mr. R.Bupathy, and Mr. SK Roongta.
(As Per BSE Announcement Dated on 01.12.2010) | Powered by Capital Market - Live News |
|