Phoenix Lamps has informed that the Board of Directors of the Company at its meeting held on April 18, 2016, has approved the draft Scheme of Amalgamation of Phoenix Lamps, Noida, with its Holding Company namely Suprajit Engineering, Bangalore. Further, based on the proposed Share Exchange ratio recommended by the Independent Valuer, in line with SEBI guidelines and duly reviewed by the Audit Committee, the Board also fixed the Share Exchange Ratio with the ratio of 4 Equity Shares of the face value of Re 1 each of Suprajit Engineering Limited with rights attached thereto as mentioned in this Scheme for every 5 Equity Shares of the face value of Rs 10 each held in Phoenix Lamps Limited as on the ‘Record Date’ to be fixed by the board of Directors of the Company.
The above information is a part of company’s filings submitted to BSE.
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