Trading Members of the Exchange are hereby informed that, pursuant to the Scheme of Arrangement for Demerger as approved by the Hon'ble National Company Law Tribunal, Ahmedabad Special Bench, MAHALAXMI RUBTECH LTD, has fixed Record Date for the purpose of Demerger and for determining the entitlement of the shareholders of the Company, as per details given below: -
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COMPANY NAME
CODE
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RECORD DATE
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PURPOSE
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EX-ENTITLEMENT FROM
DATE &
SETT. NO.
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MAHALAXMI RUBTECH LTD.
(514450)
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19/04/2024
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As per Scheme of Arrangement for Demerger sanctioned by the Hon'ble National Company Law Tribunal, Ahmedabad Special Bench between, MAHALAXMI RUBTECH LTD., (Demerged Company) and Mahalaxmi Fabric Mills Limited and Globale Tessile Limited (Resulting Company 1 and 2) and Their Respective Shareholders and Creditors;
[ I ] The Scheme of Arrangement, inter alia provides for:
a) First Demerger of “Traditional Textiles Processing Division and Wind Power Division” of Mahalaxmi Rubtech Limited (MRL) and vesting the same into Mahalaxmi Fabric Mills Limited (MFML).
b) Second Demerger of “Trading Textiles Division” of Mahalaxmi Rubtech Limited (MRL) and vesting the same into Globale Tensile Limited (GTL)
[ II ] Consideration:
(a) First Demerger: In consideration for Demerger of ‘Traditional Textiles Processing and Wind Power Division’ of MRL into MFML, MFML will issue and allot 1,06,20,275 Equity Shares of Rs. 10/- each to the shareholders of MRL in the ratio of 1 (One) new Equity Share of MFML for every 1 (One) Equity Share held by them in MRL as on the Record Date
(b) Second Demerger: in consideration for Demerger of ‘Trading Textiles Division’ of MRL into GTL, GTL will issue and allot 1,06,20,275 Equity Shares of Rs. 10/- each to the shareholders of MRL in the ratio of 1 (One) new EquitySshare of GTL for every 1 (One) Equity Share held by them in MRL as on the Record Date.
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19/04/2024 DR-614/2024-2025
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(1) Pursuant to SEBI Circular No. SEBI/Cir/ISD/1/2010 dated November 2, 2010, Trading members are hereby informed that the trading in the Equity Shares of the aforesaid Company shall be transferred from ‘B’ group to ‘T’ group w.e.f. 19th April, 2024, and
(2) Pursuant to SEBI Circular No. CIR/MRD/DP/01/2012 dated January 20, 2012, the aforesaid scrip shall be a part of Call Auction in Pre-open Session (Special Pre- open Session (SPOS)) on 19th April, 2024. For further information on SPOS, the trading members are requested to refer to the Exchanges notice no. 20120216-29 dated February 16, 2012 on Enabling Special Pre-open Session.
Subject to compliance with requisite formalities, the Equity Shares of the Resulting Company i.e. Mahalaxmi Fabric Mills Limited and Globale Tessile Limited will be listed on BSE Limited.
Marian Dsouza
Senior Manager –Listing Operations (CRD)
April 16, 2024
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