After scheme of demerger, the base price for RPG Lifesciences has been fixed at Rs 45.60 (CMP Rs 65). The company sold pharma business to RPG Pharmaceuticals, its own subsidiary.
Scheme of Arrangement of RPG Life Sciences (Scrip Code 500384)
RPG Life Sciences has fixed the record date for the purpose of determining entitlement to the shareholders of the company pursuant to the Scheme of Arrangement.
Record Date - February 22, 2008
The Scheme of Arrangement - Upon the scheme becoming effective, the Pharmaceuticals Business of the Company shall without any further act or deed, stand sold and transferred on slump sale basis, as going concern to RPG Pharmaceuticals Ltd.
In consideration RPG Pharmaceuticals will issue and allot to the shareholders of RPG Life Sciences in the ratio of ONE equity share of Rs 8 each of RPG Pharmaceuticals for every ONE equity share of Rs 10 each fully paid-up held in RPG Life Sciences.
Ex-entitlement date - February 15, 2008.
The scrip will be No Delivery from February 15, 2008 to February 21, 2008