Under scheme of amalgamation
AXISCADES Engineering Technologies announced that the Board of Directors of the Company at its meeting held on 30 December 2016, has issued and allotted 1,05,69,937 (One Crore Five Lakhs Sixty Nine Thousand Nine Hundred and Thirty Seven Only) New Equity shares of the Company to the Shareholders (as on the record date i.e. December 20, 2016) of India Aviation Training Institute as per the below mentioned swap ratio, approved in terms of the Scheme of Amalgamation sanctioned by the Hon'ble High Court of Karnataka:"10 ("Ten") fully paid-up equity share of Rs. 5/- each of Company shall be issued and allotted for every 45 ("Forty Five") fully paid up equity share of Rs. 10/- each held in India Aviation Training Institute as on the record date (referred to as "New Equity Shares")".
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