The Board of Directors of Gujarat Themis Biosyn Limited (GTBL) and Themis Medicare Limited (TML) have approved a Scheme of Amalgamation of Gujarat Themis Biosyn Limited with Themis Medicare Limited. The Scheme is subject to approval of the secured creditors and shareholders of TML and GTBL, the Stock Exchanges, SEBI, NCLT and other regulatory approvals as may be required.
This amalgamation will result in consolidation of businesses and integration of the entire product value chain under a single amalgamated entity, leading to significant synergies.
As per the joint equity share exchange ratio report issued by registered valuers, SSPA & Co., Chartered Accountants and GT Valuation Advisors Private Limited and as confirmed by the fairness opinions obtained from merchant banker Kunvarji Finstock Pvt. Ltd., TML will issue and allot 118 equity shares of the face value of Re. 1 each, credited as fully paid-up, for every 100 equity shares of the face value of Re. 1 each fully paid-up, held by shareholders in GTBL.
Khaitan & Co. acted as legal and tax advisors to the transaction. |
