Action Construction Equipment (ACE) has received an approval to amalgamate ACE Steel Fab with itself. The board at its meeting held on November 12, 2011 has approved for the same. The amalgamation will be done under section 391 and 394 of the Companies Act 1956 subject to approval of High Court of Delhi and other necessary approvals.
Further, the board has approved swap ratio of 24.22:1 i.e. 24.22 equity shares of Rs 2 each at par to be allotted for every 1 fully paid equity share of Rs 10 each to the members of ACE Steelfab, transferor company by Action Construction Equipment, transferee company.
Action Construction Equipment is more than a decade old enterprise and started with manufacturing of Hydraulic Mobile Cranes of different capacities under the brand name of ‘ACE’ at industrial township of Faridabad. ACE equipment is being successfully used in many industrial sectors. ACE range of cranes can be adapted to satisfy a vast range of possible applications due to their versatility.
Company Name | CMP |
---|---|
BEML | 3765.45 |
Action Const. Equip | 1397.85 |
Sanghvi Movers | 1439.00 |
Brady & Morris Engg | 970.00 |
TIL | 194.95 |
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