( Querist )
16 November 2010
I owned 100 shares of Zee Entertainment @ Rs. 276.41 & upon the following Scheme of Amalgamation becoming effective , was given 1 share in Zee Learn for every 4 shares of Zee Entertainment . What would be my costing ,now , for my 100 'Zee' Shares & 25 'Zee Learn' Shares ? Please refer the following article that I downloaded from Reuters for details of the Amalgamation scheme :
Zee Entertainment Enterprises Ltd Updates On Scheme Of Amalgamation
Monday, 19 Apr 2010
Zee Entertainment Enterprises Ltd announced that the Members of the Company at the Court Convened Meeting held on April 19, 2010, have approved with requisite majority the Composite Scheme of Amalgamation and Arrangement between ETC Networks Ltd. (ETC), Zee Entertainment Enterprises Ltd. (ZEEL), Zee Learn Ltd. (ZLL) and their respective Shareholders and Creditors made under the provisions of Sections 391 to 394 and other applicable provisions of the Companies Act, 1956, for the proposed Merger of ETC into ZEEL and upon such merger, demerger of Education Business undertaking from ZEEL into ZLL with effect from March 31, 2010 and April 01, 2010 (Appointed Dates) respectively subject to necessary statutory and regulatory approvals including that of Honourable High Court of Judicature at Bombay and such other authority(ies) as may be required.