NIIT Technologies update on scheme of amalgamation

NIIT Technologies announced that with reference to the Scheme of Amalgamation (Scheme") for transfer and vesting of PIPL Business Advisors and Investment Private ("Amalgamating Company 1") and GSPL Advisory Services and Investment (Amalgamating Company 2") into NllT Technologies ("Amalgamated Company"/ Company"), as sanctioned by Hon'ble National Company Law Tribunal, New Delhi Bench vide its order dated 12 November 2018 read with order dated 26 November 2018.

Pursuant to the Scheme, the Board of Directors of the Company at its meeting held on 28 December 2018 (which commenced at 10:00 AM. and concluded at 01:45 PM.) has approved the allotment of:

 

1. 21,75,911 fully paid up equity shares of the face value of Rs.10/- each at par to the shareholder of Amalgamating Company 1; and

2. 21,75,911 fully paid up equity shares of the face value of Rs.10/- each at par to the shareholder of Amalgamating

Further, 43,51,822 equity shares held by Amalgamated Companies in the share capital of the Company got cancelled pursuant to the Scheme. Company 2.

There is no change in equity shareholding (Promoter/Public) of the Company, post allotment/cancellation of equity shares.

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