ROSSELL INDIA LTD. - 533168 - Outcome Of Board Meeting - Scheme Of Arrangement Between Rossell India Limited And Rossell Techsys Limited And Their Respective Shareholders
In terms of Regulation 30 read with para A, Part A of the Schedule III and Regulation 33 (3) of the SEBI (LODR) Regulations, 2015 ('SEBI listing Regulations') and further to our letter dated 14th November, 2022 in connection with b. below, kindly be advised that the Board of Directors of the Company at its Meeting concluded a little while ago i.e. 16th December, 2022 has inter alia, considered and approved the following: a. Conversion of 10,00,000 0.01% Compulsorily Convertible Preference Shares of Rs. 10 each into 10,00,000 Equity Shares of Rs.2 each. b. b. The Draft Scheme of Arrangement between Rossell India Limited ('RIL' or 'Demerged Company') and Rossell Techsys Limited ('RTL' or 'Resulting Company') and their respective shareholders as may be modified from time to time pursuant to the provisions of Sections 230 to 232 read with section 66 and other applicable sections of the Companies Act, 2013(the Act) and other applicable provisions if any, of the Act16-12-2022