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PI Industries
BSE: 523642NSE: PIINDISIN: INE603J01030

12th-Feb-2020 22:03Source: BSE

PI Industries - Announcement under Regulation 30 (LODR)-Scheme of Arrangement

Pursuant to Regulation 30 of the SEBI (Listing Obligation & Disclosure Requirements) Regulations, 2015, we wish to inform you that the Board of Directors of PI Industries
Limited at its meeting held on 12th February, 2020, has considered and approved, Scheme of Amalgamation ("Scheme") between its wholly owned subsidiary namely lsagro (Asia) Agrochemicals Private Limited ("lsagro") and PI Industries Limited ("PilL") and their respective shareholders under the provisions of Sections 230 to 232 and other applicable provisions of the Companies Act, 2013, and rules framed thereunder. Accordingly, all businesses other than domestic distribution business of lsagro shall stand merged with PI Industries once scheme is approved by shareholders, creditors, NCLT and other regulatory authorities as applicable. Domestic distribution business of lsagro shall be demerged to ~ivagro Ltd, a wholly owned subsidiary of PilL.

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