21st-Jun-2005 17:25Source: BSE

FAL Industries Ltd has informed BSE that the Board of Directors of the Company at its meeting held on June 21, 2005, inter alia, has approved the Scheme of Amalgamation of the Company with Forbes Gokak Ltd, subject to the approval of the shareholders of respective Companies & the High Courts of appropriate jurisdiction under the provisions of Sections 391 & 394 & other provisions of the Companies Act, 1956. Further the Company has informed that subject to required approvals the amalgamation shall take effect from April 01, 2005. Under the Scheme, the shareholders of the Company, other than the Forbes Gokak Ltd will be allotted 1 (ONE) Share of Forbes Gokak Ltd for 7 (SEVEN) Shares of the Company held by them on the record date, pursuant to the Scheme, on a prorata basis, after the requisite approvals have been received. Forbes Gokak Ltd together with its Subsidiary, Forbes Finance Ltd holds 37.44% of the Paid-up Share Capital of the Company.