Jindal Saw - Fixes Record Date for Allotment of Shares by Heax Tradex Limited
Jindal Saw Ltd has informed BSE that the Board of Directors of the Company at its meeting held on November 11, 2011 has fixed November 23, 2011 as the record date for determining the shareholders to whom the shares will be allotted by Hexa Tradex Limited as consideration of transfer of Investment Undertaking of the Company to it as per the Scheme of Arrangement and Demerger sanction by the Hon''ble High Court of Allahabad. Further, Hexa Tradex Limited will allot its 1 (one) equity share of Rs. 2/- each for every 5 (five) equity shares of Rs.2/- each held by the shareholders of the Company as on the Record Date as per the terms of the Scheme of Arrangement and Demerger. Further, the Company has submitted to the Exchange a copy of the Detailed Note on the Scheme covering Business and Financial aspects of the Scheme.