Bodal Chemicals approves merger ratio for Milestone Organic Ltd

Bodal Chemicals Ltd has announced that the Board of Directors of the Company at its meeting held on August 14, 2007, inter alia, has transacted the following:

1. The Company will allot / issue 1 Equity share of Rs 10/- each credited as fully paid-up for every 100 instead of 75 equity shares of Rs 10/- each fully paid-up held by the members of Milestone Organic Ltd (MOL) under the scheme of amalgamation of MOL with the Company.

2. The Company has appointed Shri. Ramesh D Patel, Shri. Jayanti D Patel as an Additional Directors of the Company.

3. The Company has also appointed Shri. Bipin Patel and Shri. Sunil Mehta, as an Additional Directors of the Company and both are independent Directors of the Company.

The stock closed the day at Rs.59, up by Rs.0.25 or 0.43%. The total traded quantity was 27740 compared to 2 week average of 12501. The stock hit an intraday high of Rs.60 and low of Rs.57.60.

Source : Equity Bulls

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