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AfricaMoney | August 22, 2017

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Hester Mauritius; Diavetra and GAFL to merge with India Hester Biosciences Ltd

Hester Mauritius; Diavetra and GAFL to merge with India Hester Biosciences Ltd

The appointment date of the scheme would be on April 1, 2015 and no shares of Hester India will be issued on amalgamation of Diavetra, GAFL and Hester Mauritius into Hester India since the amalgamating companies are its wholly owned subsidiaries. (Image pillarplc)

Following a meeting held on December 24, 2014, the Board of Directors of Hester Biosciences Ltd has considered and approved a Composite Scheme of Amalgamation and Arrangement between Diavetra Lifesciences Private Limited (Diavetra), Gujarat Agrofarm Limited (GAFL), Hester Biosciences Mauritius Limited (Hester Mauritius) and Innoves Animal Health Private Limited (Innoves) and their respective shareholders and creditors (Scheme).

The partnership, which came under sections 391 to 394 of the Companies Act (1956), is subject to the requisite approvals of the shareholders and the creditors of the respective companies and the sanction of the High Court of Gujarat at Ahmedabad or such other competent authority and other necessary statutory approvals.

The scheme foresees the merger of Diavetra, GAFL and Hester Mauritius into Hester India and demerger of Trading undertaking of Innoves into Hester India.

The appointment date of the scheme would be on April 1, 2015 and no shares of Hester India will be issued on amalgamation of Diavetra, GAFL and Hester Mauritius into Hester India since the amalgamating companies are its wholly owned subsidiaries.

The consideration to be issued for Demerger of Trading undertaking of Innoves into Hester India: 1 (One) fully paid up Equity Share of  INR 10 (approximately MUR 4.99) of Hester India shall be issued and allotted for 33,537 Equity Shares of  INR 10 (approximately MUR 4.99)  held in Innoves.

Shares of Hester Biosciences Ltd was last traded in Bombay Stock Exchange at INR 331 to approximately MUR 163.69 as compared to the previous close of INR 336.7 which is approximately MUR 167.89.

The total number of shares traded during the day was 2,497 in over 179 trades.

Finally, the stock hit an intraday high of INR 344.9 (approximately MUR 171.98) and intraday low of 330.05. The net turnover during the day was Rs. 845121 (approximately MUR 421407.62).

Source: Equity Bulls

About Hester Biosciences Limited:

Hester Biosciences Limited is a company which manufactures animal vaccines and health products.

Located near the city of Ahmedabad, in Western India, Hester has a state-of-the-art manufacturing facility. Their product range includes vaccines, health products and diagnostics whereas their services include seroprofiling for poultry flocks and mastitis control programs for cattle.

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