Board of Fairchem Speciality approves composite scheme of arrangement and amalgamation

At meeting held on 22 May 2019

The Board of Directors of Fairchem Speciality and Privi Organics India at their respective meetings held on 22 May 2019, have, inter alia, subject to various approvals, considered and approved a composite scheme of arrangement and amalgamation (Transaction), for:

1. Demerger of the speciality oleo chemicals and nutraceuticals business of FSL into Fairchem Organics (FOL, a wholly owned subsidiary of FSL)

2. Amalgamation of POIL, manufacturers of aroma chemicals, a wholly owned subsidiary of FSL, into and with FSL.

In consideration of the demerger, FOL will issue 1 fully paid up equity share of Rs.10 each for every 3 equity shares of Rs.10 of FSL. Thus, each FSL shareholder, while continuing to hold its shares in FSL, will get additional shares of FOL.

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