Bextex Limited will be merged with Bangladesh Export Import Company Limited with retrospective effect from January 01, 2011.
The Board of Directors of the two companies took separate decisions in this regard.
The director of the companies at separate meetings considered the proposal of merger of Bextex Limited with Bangladesh Export Import Company Limited effective from January 01, 2011, subject to approval from all legal/regulatory authorities, according to company sources.
The boards also approved the scheme of amalgamation, determining the exchange ratio of the ordinary share of Bextex Limited with that of Bangladesh Export Import Company Limited at five shares of Bextex Limited for one share of Bangladesh Export Import Company Limited as determined by the value estimating firm.
The boards also approved the draft petition of Bangladesh Export Import Company Limited and Bextex Limited for submission to the High Court Division of the Supreme Court of Bangladesh for amalgamation of these companies under Section 228 read with Section 229 of the Companies Act, 1994 as drawn up by the legal counsel.
http://www.daily-sun.com/?view=details&type=daily_sun_news&pub_no=214&cat_id=1&menu_id=3&news_type_id=1&index=3
No comments:
Post a Comment