Allied Resins approves merger ratio

Allied Resins & Chemicals Ltd has announced that the Board of Directors of the Company at its meeting held on February 23, 2010, in principle decided the shares exchange ratio for merger of the Company with the ARCL Organics Ltd. Equity Shareholders of the Company will get one equity share of ARCL Organics Ltd. in exchange of two equity shares of the Company.

Further the Board of Directors finalized the draft Scheme of Arrangement for amalgamation of the Company with the ARCL Organics Ltd.

Source : Equity Bulls

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