Prima Plastics Details Scheme of Arrangement with Prima Innovation
Prima Plastics Ltd confirmed key details regarding the Scheme of Arrangement between Prima Plastics Limited and Prima Innovation Limited, along with their respective shareholders and creditors.The scheme was previously announced following the receipt of the certified copy of the Order from the National Company Law Tribunal, Ahmedabad Bench. The Scheme of Arrangement was set to be effective on April 1, 2026.
Under the terms of the Scheme, the Resulting Company is mandated to issue and allot equity shares to the shareholders of Prima Plastics Limited on a proportionate basis, following a specified ratio.
The allotment ratio is structured as follows: one fully paid-up equity share of the Resulting Company, with a face value of INR 5, will be issued for every one fully paid-up equity share of Prima Plastics Limited held in the Company with a face value of INR 10.
Prima Plastics Ltd has established the Record Date to determine the shareholders eligible to receive the equity shares of the Resulting Company. The company fixed April 17, 2026, as this Record Date by passing a resolution by circulation.
The eligible shareholders are those whose names appear in the register of members and records of the Company or the depository as of the Record Date.
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