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Phoenix Lamps announced that the Board of Directors of the Company at its meeting held on 18 April 2016, has transacted the following;
- Approval of 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/- (Rupee One only) each of Suprajit Engineering with rights attached thereto as mentioned in this Scheme for every 5 Equity Shares of the face value of Rs. 10/- (Rupee Ten only) each held in Phoenix Lamps as on the “Record Date” to be fixed by the board of Directors of the Company.
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