AB Nuvo shareholders to meet on April 10 at Veraval (Gujarat) to give nod to AB Nuvo, Grasim Ind merger

VERAVAL | MUMBAI | AHMEDABAD | RAJKOT – Meetings of the Equity Shareholders, Secured Creditors and Unsecured Creditors of Aditya Birla Nuvo Ltd is scheduled to on 10th April, 2017 at Auditorium in Indian Rayon Compound located at Veraval in Gujarat State, the registered office of Aditya Birla Nuvo Ltd, the company update said.

E-Voting and Voting through postal ballot by the shareholders on the resolution proposed in the notice of the meeting, will commence on and from Friday, March 10, 2017 and will end on Sunday, April 9, 2017 at 5pm (17:00hrs IST).  The company shall provide facility for electronic voting system through computer or tablet or ballot or polling paper at the venue of the meeting.  Equity shareholders of the company at at the cut-off date of February 4, 2017, only shall be entitled to vote on the scheme.

In case of meetings of the secured creditors, unsecured creditors (including debentureholders) of the company fixed for April 10, 2017 the voting shall be carried out through the ballot or polling paper at the venue of the meeting.

Notices of the meetings will be displayed on the website of the company at www.adityabirlanuvo.com and on the website of the company share registrars Karvy at www.evoting.karvy.com, the statement said.

Shares of AB Nuvo and Grasim Industries ended in green zone on positive counters on the leading two Indian bourses – BSE and NSE, today, when markets re-open for trade on Monday, it will be interesting to see as to how investors and markets are reacting to this development catalyzing AB Nuvo-Grasim Industries mergere, which hit the exchanges, after markets had closed for the week on Friday.

For the deal AB Nuvo – Grasim Industries merger to happen, AB Nuvo will need approval of majority of its minority shareholders. AB Nuvo and Grasim merger will create one of India’s largest diversified companies with a mix of business and steady cash flows. The merger plan also includes listing of financial services company Aditya Birla Financial Services Ltd.

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