Patel Roadways to allot shares to Patel On-Board Couriers Ltd shareholders

Patel Roadways Ltd has announced that a meeting of the Board of Directors of the Company will held on October 31, 2006, inter alia, to allot equity shares in the Company to persons who are shareholders of Patel On-Board Couriers Ltd (POBCL), in the ratio of 23 equity shares in the Company for 20 shares held in Patel On-Board Couriers Ltd.

This allotment of equity shares will be made pursuant to the Scheme of Amalgamation of POBCL (Transferor Company) with the Company (Transferee Company) which was approved by the shareholders of the Transferor and Transferee companies at their respective Court Convened meetings held May 19, 2006 and by the Hon’ble High Court of Judicature at Bombay on August 11, 2006.

Source : Equity Bulls

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