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Share it on FacebookAS COMPANY IS GOING TO DEMERGE AND IN EXCHANGE OF PSTL THE SHARE HOLDERS WILL GET
1 SHARE OF SAIMIRA THEATER LTD. FOR EVERY 7 PSTL
1 SHARE OF SAIMIERA FOOD LTD. FOR 17 SHARE LTD
1 SHARE OF SAIMIRA HOLDINGS FOR EVERY 2 SHARE
1 SHARE OF PYRAMID SAIMIRA PRODUCTION FOR 4 SHARE
1 SHARE OF DIMPLEX CINE ADV. FOR EVERY 17 SHARES OF PSTL
ALL THE SHARE OF ABOVE 5 COMPANY WILL BE LISTED ON NSE AND BSE
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One or two will be listed rest all will be vanishes into the blue.
PSTL NOT GOING TO BE DELISTED BUT IT GOING TO BE DEMERGE and for every 476 shares of PSTL you will get 68 shares OF SAIMIRA THEATER LTD 28 shares OF SAIMIERA FOOD LTD. 238 shares of OF SAIMIRA HOLDINGS 119 shares of PYRAMID SAIMIRA PRODUCTION 30 shares of DIMPLEX CINE ADV. all the above company will be listed on nse and bse
assume we have 1000 shares of PSTL after delisting what wil be the value?
Pyramid Saimira Theatre Ltd has informed BSE about an announcement titled 'Scheme of Arrangement under section 391 of the Companies Act'. Announcement: 'The scheme submitted by the Managing Director Mr. P S Saminathan under section 391 of the Companies Act to the Honourable High Court, Chennai. The Honourable High Court has admitted the scheme for consideration and directed to stay all further proceedings of winding up cases pending disposal of the scheme. The scheme has the approval of the Board of Directors of the Company and also members of the Company. The proposed scheme is subject to the approval and leave of the Honorable High Court which contemplates the following: 1. The bank debts of the Company Rs. 183.19 Crores shall be converted into Bonds repayable over 3 and 5th year. 2. The Foreign Convertible Bonds of the Company to be converted into shares at Rs. 246/- per share. 3. PSTL will demerge the operations of the Company into Exhibition (Saimira Theatres Ltd) and Food & Beverages (Saimira Foods Ltd). The residual Company PSTL will he called Pyramid Saimira Holdings Ltd which will hold shares of other investee companies. 4. In exchange of PSTL shares all shareholders of the company including FCCB holders will get shares in the following ratio: a. One share of Saimira Theatres Limited for every 7 shares held in PSTL. By virtue of demerger and scheme of arrangement all these five companies would be listed in BSE & NSE. The Honourable High Court has fixed June 21, 2010 as the next date for hearing on the subject.' Pyramid Saimira Theatre Ltd [30-Apr-10] Pyramid Saimira Theatre Ltd has informed BSE about an announcement titled 'Scheme of Arrangement under section 391 of the Companies Act'. Announcement: 'The scheme submitted by the Managing Director Mr. P S Saminathan under section 391 of the Companies Act to the Honourable High Court, Chennai. The Honourable High Court has admitted the scheme for consideration and directed to stay all further proceedings of winding up cases pending disposal of the scheme. The scheme has the approval of the Board of Directors of the Company and also members of the Company. The proposed scheme is subject to the approval and leave of the Honorable High Court which contemplates the following: 1. The bank debts of the Company Rs. 183.19 Crores shall be converted into Bonds repayable over 3 and 5th year. 2. The Foreign Convertible Bonds of the Company to be converted into shares at Rs. 246/- per share. 3. PSTL will demerge the operations of the Company into Exhibition (Saimira Theatres Ltd) and Food & Beverages (Saimira Foods Ltd). The residual Company PSTL will he called Pyramid Saimira Holdings Ltd which will hold shares of other investee companies. 4. In exchange of PSTL shares all shareholders of the company including FCCB holders will get shares in the following ratio: One share of Saimira Foods Ltd for every 17 shares held in PSFL. By virtue of demerger and scheme of arrangement all these five companies would be listed in BSE & NSE. The Honourable High Court has fixed June 21, 2010 as the next date for hearing on the subject.'
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