Nestlé India to consider fixation of Record Date for payments pursuant to the Scheme of Arrangement, at the Board Meeting on Oct 31, 2008.
Nestlé India Ltd has informed BSE that the Company has received certified copy of the Order of Hon'ble High Court sanctioning the Scheme of Arrangement between the Company and its Shareholders and Creditors ("the Scheme). The Scheme shall become effective on its filing with the Registrar of Companies.
Further, the Company has informed that at the Board Meeting, proposed to be held on 31st October, 2008, on the Scheme becoming effective, the Directors shall consider fixation of Record Date for the purpose of determining the list of the shareholders, who shall be entitled to receive payment pursuant to the Scheme of Arrangement; and determine amount to be paid per share, taking into account the applicable taxes and the round off of payments to the nearest half Rupee.
Further, the Company has informed that at the Board Meeting, proposed to be held on 31st October, 2008, on the Scheme becoming effective, the Directors shall consider fixation of Record Date for the purpose of determining the list of the shareholders, who shall be entitled to receive payment pursuant to the Scheme of Arrangement; and determine amount to be paid per share, taking into account the applicable taxes and the round off of payments to the nearest half Rupee.