Gillanders Arbuthnot Board to recommend dividend, to amalgamate Waldies Ltd

Gillanders Arbuthnot & Company Ltd has announced that a meeting of the Board of Directors of the Company will be held on December 18, 2006, inter alia, to transact the following businesses:

1. To take note of the coming into effect of the Scheme of Amalgamation of Waldies Ltd, an unlisted subsidiary of the Company with the Company, which is operative retrospectively from the Appointed Date viz April 01, 2005.

2. To consider and approve the Accounts for the year ended March 31, 2006 which would be inclusive of the operations of erstwhile Waldies Ltd (Waldies) for the said period.

3. To recommend payment of dividend for the financial year ended March 31, 2006.

4. To allot Ordinary Shares in the Company to the Ordinary Shareholders of Waldies in the ratio of 5 Ordinary Shares of Rs 10/- each in the Company for every Ordinary Share of Rs 100/- each held by them in Waldies for the purpose of determining such entitlement to the shares in the Company pursuant to and in terms of the aforesaid Scheme of amalgamation.

Source : Equity Bulls

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