At meeting held on 15 September 2014
Wockhardt announced that the Board of Directors of the Company at its meeting held on 15 September 2014, inter-alia approved a scheme of Amalgamation for amalgamation/merger of following two wholly owned subsidiaries with the Company:1. Wockhardt Biopharm (WBL) and
2. Vinton Healthcare (VHL)
Further, as mentioned above, since WBL & VHL are wholly owned subsidiaries of the Company, no shares are proposed to be issued pursuant to the amalgamation. This scheme is subject to requisite approvals, including under Listing Agreement and by the Hon'ble High Courts.
The amalgamation being of wholly owned subsidiaries into the Company, a specific dispensation will be sought from the Hon'ble High Courts from filing the application / petition by the Company and accordingly, the Company may not be required to file petition with the High Court.
Powered by Capital Market - Live News
