On 19 December 2013
Asahi Songwon Colors announced that its directors in the board meeting held on 19 December 2013, have considered and approved scheme of arrangement between Asahi Songwon Colors and AksharChem (India) and their respective shareholders and creditors under sections 391 to 394 of the Companies Act, 1956 and the sanction of High Court of Gujarat at Ahmedabad or such other competent authority and other necessary statutory approvals. The scheme envisages demerger of "Pigment Green" Division of Asahi Songwon Colors to AksharChem (India) having an appointed date as 01 April 2014. As per the scheme, the share exchange ratio would be as follows: 5 (five) equity shares of AksharChem (India) of Rs 10 each fully paid up for every 26 (twenty six) equity shares of Asahi Songwon Colors of Rs 10 each fully paid up.Powered by Capital Market - Live News
