*Suven Life Demerged Today*:
*Scheme of Arrangement (Demerger) of Suven Life Sciences Ltd. (Scrip Code 530239)*
Trading Members of the Exchange are hereby informed that, pursuant to the Scheme of Arrangement (for Demerger) approved by the Hon’ble National Company Law Tribunal, Hyderabad Bench (NCLT), Suven Life Sciences Ltd. has fixed the Record Date for the purpose of determining entitlement of the shareholders of the Company, as per details given below:
RECORD DATE 22/01/2020
EX DATE 21/01/2020
PURPOSE
As per Scheme of Arrangement sanctioned by the Hon’ble National Company Law Tribunal, Hyderabad Bench (NCLT), between, Suven Life Sciences Ltd. (Transferor Company) and Suven Pharmaceuticals Limited (Transferee Company) and Their Respective Shareholders and Creditors: -
Upon the coming into effect of the aforesaid Scheme and in consideration of the transfer of the Contract Research & Manufacturing Services of Suven Life Sciences Ltd. into Suven Pharmaceuticals Limited;
Suven Pharmaceuticals Limited shall issue and allot Equity Shares to the shareholders of Suven Pharmaceuticals Limited in the following proportion:
“1 fully paid up equity share of Rs.1/- each fully paid up of Suven Pharmaceuticals Limited shall be issued and allotted for every 1 (One) fully paid up equity share of Rs. 1/- each fully paid up held in Suven Life Sciences Ltd.”
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