July 05, 2019

Powmex Steels Merged With GKW / Graphite India

Around 1996
1:12 share ratio for GKW merger with Powmex Steels
The amalgamation of Powmex Steels Ltd with GKW Ltd envisages a swap ratio of one equity share of Rs. 10 each of GKW for every 12 equity shares of Rs. 10 each of Powmex. FIs have, in principle, approved the proposed amalgamation and agreed to the conversion of interest accrued up to September 30, 1995 in respect of loans advanced by them to Powmex. Then, shares issued by Powmex to FIs will be subject to the swap ratio of one GKW share of Rs. 10 each for every 12 shares of Rs. 10 each of Powmex.

Around 2009 GKW issues shares of Graphite India ( ratio 1 Graphite share for every 3 GKW shares and reduction in GKW capita
Gkw Ltd has informed the Exchange that the Company has obtained a certified copy of the Order of the Hon''ble High Court at Calcutta on 18th June, 2009 approving the Scheme of Arrangement between GKW Limited (GKW) and Graphite India Limited (GIL) and their respective Shareholders for demerger of Powmex Steels Undertaking of the Company to Graphite India Limited. The certified copy of the Order of the High Court has already been filed with The Registrar of Companies on June 19, 2009. Further the Company has informed that the company has decided to fix the Record date as July 01, 2009 for the following purposes: (1) Allotment of Shares by GIL: GIL shall issue and allot to the shareholders of GKW whose names shall appear in the Register of Members as on the Record Date one (1) Equity Share of Rs.2/- each in GIL, credited as fully paid up for every Three (3) Ordinary Shares of Rs.10/- each held by them in GKW. (2) Reduction, reorganisation and consolidation of Share Capital of GKW: The Ordinary Shares of Rs 10/- each shall, consequent to the demerger of Powmex Steels Undertaking and with effect from the appointed date stand reduced to Re.1/- each fully paid-up by cancellation of the paid-up share capital to the extent of Rs.9/- per ordinary share upon each of the existing fully paid-up ordinary shares of Rs.10/- each held by the members of the company as on the Record Date in the share capital of the Company and simultaneously with such reduction, every resulting 10 ordinary shares of Re.1/- each held by the members of the Company as on the Record Date shall stand reorganized and consolidated into 1 Ordinary share of Rs.10/- each. The details of the same shall be available on the NSE website (http://www.nseindia.com) under: Corporates > Latest Announcements and on the Extranet Server (/Common/Corporate Announcements).


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1 comment:

arun bajaj said...

I have 100 shares of Powmex Steel Ltd. in my name in physical form. I have also demat account in ICICI BANK. How can I sell this shares, please inform.

Thanking you,

ours sincerely

Arun Bajaj

my e.mail.. arunbajaj1@hotmail.com

Arun Bajaj
Shri Jagdish Prasad Jhabarmal Tibrewala University
Churu Road
Dist. Jhunjhunu
Rajasthan Pin Code 333001