HINDUSTAN LEVER LIMITED Merger and Demerger - POLL Results
01-11-2006 : Hindustan Lever Limited - Demerger (Shamnagar Estates Private Limited, Jamnagar Properties Private Limited And Hindustan Kwality Walls Foods Private Limited)
POLL RESULTS
The Hon’ble High Court of Judicature of Bombay had convened a meeting of the shareholders of Hindustan Lever Limited (HLL), to approve the Scheme of Arrangement between Hindustan Lever Limited, Shamnagar Estates Private Limited, Jamnagar Properties Private Limited, Hindustan Kwality Walls Foods Private Limited for the demerger and transfer of certain Units of Hindustan Lever Limited to Shamnagar Estates Private Limited, Jamnagar Properties Private Limited and Hindustan Kwality Walls Foods Private Limited respectivley. As per the requirements of the Companies Act, 1956, majority in number representing three-fourth in value, present and voting, either in person or proxy, is needed to approve the demerger. The motion was approved by the requisite majority. Out of the 519 ballots which were found valid, 498 ballots (95.95%) representing 123,03,83,133 shares (99.99%) were in favour of the resolution placed before the meeting.
The joint scrutineers, appointed by the Chairman of the meeting, communicated the outcome of the poll to the Chairman which was conducted after all persons had a chance to speak on the merger.
HINDUSTAN LEVER LIMITED MERGER –POLL RESULTS
The Hon’ble High Court of Judicature of Bombay had convened a meeting of the shareholders of Hindustan Lever Limited (HLL), to approve the Scheme of Arrangement involving Amalgamation of Modern Food Industries (India) Limited and Modern Food and Nutrition Industries Limited with HLL. As per the requirements of the Companies Act, 1956, majority in number representing three-fourth in value, present and voting, either in person or proxy, is needed to approve the merger. The motion was approved by the requisite majority. Out of the 520 ballots which were found valid, 500 ballots (96.15%) representing 132,29,99,145 shares (99.99%) were in favour of the resolution placed before the meeting.
The joint scrutineers, appointed by the Chairman of the meeting, communicated the outcome of the poll to the Chairman which was conducted after all persons had a chance to speak on the merger.
