Camson Bio's demerger scheme gets shareholders' nod

Camson Bio Technologies (CBTL) today said its shareholders and creditors have approved the scheme to demerge its seeds business into a separate entity.
The company has obtained approval for the scheme of arrangement from shareholders and creditors in a meeting held in Bengaluru today. The meeting was convened on an order from the Karnataka High Court, the biotechnology company said in a release here.
The company will file the outcome (petition) of meeting with the High Court.
The terms and conditions besides shareholding pattern post demerger were also discussed at the meet along with the prospects of the demerged seed business.

The existing shareholders of CBTL will get one equity share of Camson Seeds, the demerged entity, for every share held in Camson Bio, the release said.
The new entity will undertake production and cultivation of quality seeds for enhancing farming. It will carry on business with dealers, importers and exporters of all varieties of seed products. At the same time, it will provide necessary help to farmers to boost production, it said.
Santosh Nair, CEO, Camson Bio, said, "The demerger of seed division will classify the growth of individual entity in a focused manner.