OCL India Ltd has informed that March 05, 2008 has been fixed as a record date for ascertaining the list of shareholders of OCL India Ltd (OCL) for issue of equity shares of OCL Iron and Steel Ltd (OISL) and Landmark Property Development Company Ltd (LPDC) (formerly known as Konark Minerals Ltd) as per the Scheme of Arrangement (Scheme) approved by Honble Gauhati High Court on October 15, 2007 and the Honble High Court of Orissa, Cuttack on November 27, 2007. Certified copy of Order was filed with the office of the Registrar of Companies, Shillong on November 05, 2007 and Registrar of Companies, Cuttack on December 20, 2007. Accordingly, the Effective Date for the Scheme is December 20, 2007.
Further, OCL has fixed March 06, 2008 as the record date for the entitlement of Dalmia Cement (Meghalaya) Ltd (DCML) shareholders to the shares of OCL.
Pursuant to the Orders and as envisaged in the Scheme, the following issue and allotment of shares will be carried out by the respective companies in accordance with the Scheme:
i) As per clause 7.1 of the Scheme, OISL shall, in consideration of demerger of Steel Undertaking of OCL, issue and allot three equity shares of Rs 1/- (Rupees One only) each of every one equity share of OCL to the members of OCL;
ii) As per clause 7.2 of the Scheme, LPDC shall, in consideration of demerger of Real Estate Undertaking of OCL, issue and allot three equity shares of Rs 1/- (Rupee One only) each for every one equity share of OCL to the members of OCL; and
iii) As per clause 11.1 of the Scheme, OCL shall, in consideration of merger of DCML, issue and allot sixty one equity shares of Rs 2/- (Rupees two only) each for every hundred equity shares of DCML to the members of DCML.
Further, the Scheme does not involve reduction of paid up equity share capital of OCL and existing listed shares of OCL will not undergo any change in face value.
Further, OCL has fixed March 06, 2008 as the record date for the entitlement of Dalmia Cement (Meghalaya) Ltd (DCML) shareholders to the shares of OCL.
Pursuant to the Orders and as envisaged in the Scheme, the following issue and allotment of shares will be carried out by the respective companies in accordance with the Scheme:
i) As per clause 7.1 of the Scheme, OISL shall, in consideration of demerger of Steel Undertaking of OCL, issue and allot three equity shares of Rs 1/- (Rupees One only) each of every one equity share of OCL to the members of OCL;
ii) As per clause 7.2 of the Scheme, LPDC shall, in consideration of demerger of Real Estate Undertaking of OCL, issue and allot three equity shares of Rs 1/- (Rupee One only) each for every one equity share of OCL to the members of OCL; and
iii) As per clause 11.1 of the Scheme, OCL shall, in consideration of merger of DCML, issue and allot sixty one equity shares of Rs 2/- (Rupees two only) each for every hundred equity shares of DCML to the members of DCML.
Further, the Scheme does not involve reduction of paid up equity share capital of OCL and existing listed shares of OCL will not undergo any change in face value.
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