Vinyl Chemicals equity shareholders to approve Scheme of Arrangement

Vinyl Chemicals India Ltd has announced that pursuant to the Order made by the Hon'ble High Court of Judicature at Bombay, a meeting of the equity shareholders of the Company will be held on August 27, 2007, for the purpose of considering, and if thought fit, approving with or without modification(s), the arrangement embodied in the Scheme of Arrangement for the demerger for the Vinyl Acetate Monomer ("VAM") Manufacturing Unit of the Company into Pidilite Industries Ltd ("Scheme").

The stock closed the day at Rs.11.32, down by Rs.0.08 or 0.70%. The stock hit an intraday high of Rs.11.60 and low of Rs.11.30. The total traded quantity was 15098 compared to 2 week average of 9367.

Source : Equity Bulls

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