Board of National Peroxide approves composite scheme of arrangement

At meeting held on 09 March 2021

The Board of National Peroxide at its meeting held on 09 March 2021 has approved the composite scheme of arrangement amongst National Peroxide (transferee / demerged company) and Naperol Investment (transferor company) and NPL Chemicals (resulting company) and their respective shareholders and creditors. The scheme includes -

1. demerger, transfer and vesting of the Demerged Undertaking (as defined in the Scheme) from the Demerged Company into the Resulting Company, on a going concern basis, and in consideration thereof, the Resulting Company shall issue its equity shares to equity shareholders of the Demerged Company in the same proportion as their holding;

2. amalgamation of the Transferor Company with the Transferee Company; and

3. reduction of entire share capital of the resulting company held by the demerged company.

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