Board of Mangalam Cement allots 8.03 lakh equity shares under scheme of amalgamation

14 Jan 2022 , 05:45 PM

The Board of Mangalam Cement at its meeting held on 14 January 2022 has approved the allotment of 8,03,518 fully paid-up equity shares of Mangalam Cement (MCL or Company), of face value 10/- each, to eligible share holders of Mangalam Timber Products (MTPL) (as on the record date of January 06, 2022), in the share exchange ratio of 1: 22 as provided in the Scheme of Amalgamation as approved by Hon ble National Company Law Tribunal (NCLT), Jaipur Bench vide order dated 03 November 2021.

Further, 8814 fully paid-up equity shares of MCL (included within the aforementioned 8,03,518 fully paid-up equity shares) are allotted to Manoj Kumar, Company Secretary of the Company towards fractional entitlements of shareholders of MTPL for the benefit of shareholders of MTPL, during the process of allotment of shares as per Share Exchange Ratio as provided in the Scheme of Amalgamation.

On allotment, the equity share capital of the Company stands increased to 2,74,97,298 equity shares of Rs. 10 each aggregating to Rs. 27,49,72,98 0/-.

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