**[investwise]** Kalyani Steel fixes April 23, 2010 for de-merger

 

Kalyani Steels Ltd has informed BSE that pursuant to Scheme of Arrangement ("Scheme") between Kalyani Steels Ltd ("Demerged Company") and Chakrapani Investments & Trades Ltd, Surajmukhi Investment & Finance Ltd and Gladiolla Investments Ltd ("Amalgamating Companies") and Kalyani Investment Company Ltd ("Resulting Company"), approved by the Hon'ble High Court of Judicature at Bombay, the Company has fixed the 'Record Date' on April 23, 2010, for: 1. Determination of Names of the Members of Kalyani Steels Ltd, who will be entitled to receive Equity Shares of the Resulting Company, i.e. of Kalyani Investment Company Ltd pursuant to Scheme of Arrangement. 2. Reduction of Paid up Equity Capital of Kalyani Steels Ltd from Rs. 436,530,600/- represented by 43,653,060 Equity Shares of Rs. 10/- each to Rs. 218,265,300/- represented by 43,653,060 Equity Shares of Rs. 5/- each, by cancelling Rs. 5/- per Equity Share. Safe Harbor Statement: Some forward looking statements on projections, estimates, expectations & outlook are included to enable a better comprehension of the Company prospects. Actual results may, however, differ materially from those stated on account of factors such as changes in government regulations, tax regimes, economic developments within India and the countries within which the Company conducts its business, exchange rate and interest rate movements, impact of competing products and their pricing, product demand and supply constraints.   Nothing in this article is, or should be construed as, investment advice.

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