Northgate Tech - Record Date for Scheme of Arrangement
Northgate Technologies Ltd has informed BSE that the Composite Scheme of Arrangement and Amalgamation under section 391 to 394 of the Companies Act, 1956 between Northgate Technologies Limited, Northgate Com Tech Limited and Green Fire Agri Commodities Private Limited has been approved by the Honorable High Court of Andhra Pradesh. The Scheme has become effective from May 21, 2012.
The Company has fixed record date as July 13, 2012 for the following purposes :
(1) Issuance and Allotment of "1(one) fully paid up Equity shares of Rs. 10 each of Northgate Com Tech Limited for every 1(one) fully paid up Equity shares of Rs. 10 each held in the Company (Northgate Technologies Limited).
(2) Reduction of Share Capital: The face value and paid up value per equity share (including equity shares issued to the shareholders of Green Fire Agri Commodities Private Limited) shall stand reduced by Rs. 9 without any payment to shareholders of the Company (Northgate Technologies Limited).