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Axiscades Engineering Technologies informs about updates on scheme of amalgamation

09 Dec 2016 Evaluate

Axiscades Engineering Technologies has informed that the Board of Directors of the Company have approved and fixed the record date as December 20, 2016 for ascertaining the eligible shareholders of India Aviation Training Institute to issue and allot New Equity Shares of the Company to such shareholders as on the record date in accordance with the Scheme of Amalgamation. Thereby the Register of Members and Share Transfer Register of India Aviation Training Institute shall remain closed for one day i.e. December 20, 2016. Further, the Company informed that the Scheme of Amalgamation between Axiscades Engineering Technologies and India Aviation Training Institute and their Respective Shareholders (‘Scheme’) approved by the Hon’ble High Court of Karnataka has become effective on and from December 05, 2016. In accordance with clause 14 of the Scheme, India Aviation Training Institute Private Limited shall stand dissolved without winding-up and accordingly, AXISCADES Aerospace & Technologies (hitherto a wholly-owned subsidiary of India Aviation Training Institute) together with its subsidiaries has become a wholly-owned subsidiary of the Company.

The above information is a part of company’s filings submitted to BSE.

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