Aurobindo Pharma Ltd has announced that the Board of Directors of the Company at its meeting held on November 12, 2009, inter alia, has considered and approved the draft scheme of Amalgamation for the merger of Trident Life Sciences Ltd being wholly owned subsidiary of the Company, with itself. Upon the Scheme becoming effective, all the assets and liabilities of Trident shall be transferred to Aurobindo. Aurobindo shall not issue any shares or other consideration as Trident is 100% subsidiary of Aurobindo. The Scheme is subject to requisite consent, approval of the requisite majority of the shareholders of the Companies, the Hon'ble High Court of Judicature at Hyderabad, Stock Exchanges, the permission or approval of any other statutory or regulatory authorities, which by law may be necessary for the implementation of the Scheme.
Final dividend at 30% (Rs. 1.50 per share of Rs. 5/- each) on the equity share capital of the Company for the year 2008-09 has been recommended, subject to approval of members at the ensuing Annual General Meeting to be held on December 23, 2009. The Company in the month of February, 2009 has paid an interim dividend of 60% (Rs. 3.00 per share of Rs. 5/- each) on the equity share capital of the Company for the year 2008-09.
The Board approved proposal to convene the 22nd Annual General Meeting of the Company on December 23, 2009.
The stock closed the day at Rs.784.85, down by Rs.27.60 or 3.40%. The stock hit an intraday high of Rs.830 and low of Rs.780.10.
The total traded quantity was 160292 compared to 2 week average of 42935.
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