Tuesday, April 7, 2009

[Investors Please Listen] RPL merge with RIL is approved by Creditors and Shareholders

Mukesh Ambani-led Reliance Industries today said the merger of
Reliance Petroleum with itself has been approved by its shareholders
and creditors.

In a court-convened meeting of equity shareholders and secured and
unsecured creditors of RIL held here on Saturday, 98.86 per cent of
the shareholders present in person or proxies voted in favour of the
scheme of amalgamation.

Shareholders representing a marginal 0.0002 per cent of the total
value of shares voted against the scheme.

Following the share-swapping, RIL would have 3.7-million shareholders
and the promoters holdings, including that of its Chairman Mukesh
Ambani, will fell by 2 per cent to 47 percent.


News Source: TOI
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Safe Harbor:

The information contained and provided on this Website provides Investment advice for the education of investors. The posts are an information service only. Recommendations, opinions or suggestions are given with the understanding that readers acting on this information assume all risks involved. We do not assume any responsibility or liability resulting from the use of such information, judgment and opinions for Trading or Investment purposes.
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