Mastek Ltd has informed BSE that The Board of Directors of the Company, through resolution passed by circular resolution on May 31, 2011, considered and approved the Scheme of Amalgamation of Keystone Solutions Pvt Ltd ('the Transferor Company' or 'Keystone') with Mastek Ltd ('the Transferee Company' or 'the Company' or 'Mastek') and their respective shareholders and creditors ('the Scheme'). The Appointed Date of the Scheme of Amalgamation is July 01, 2011.
The entire Equity Share Capital of the Transferor Company is held by the wholly owned subsidiaries of the Transferee Company. Therefore, upon the Scheme becoming effective, there will be no issue and allotment of shares pursuant to the Scheme.
The Scheme of Amalgamation is, inter-alia, subject to the necessary approvals under the Companies Act, 1956 including the High Court of Judicature, or any other competent authority.
Sensex
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Wednesday, June 01, 2011
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