Glaxosmithkline Consumer Healthcare Limited Fixes Record Date For Merger With Hindustan Unilever Limited

The scheme of merger by absorption amongst GlaxoSmithKline Consumer Healthcare Limited (“Transferor Company”) and Hindustan Unilever Limited (“Transferee Company”) and their respective shareholders and creditors (“Scheme”) had earlier received the sanction of the Hon’ble National Company Law Tribunal (“NCL T”), Chandigarh bench.

A meeting of Board of Directors of the Transferor Company (“Board”) was duly convened on Wednesday, April 1, 2020 which started at 10:30 AM and concluded at 11:40 AM. The Board considered and took on record the sanction of the Scheme by Hon’ble NCL T Mumbai Bench and Chandigarh Bench. Wednesday, April 1, 2020, has been fixed as the Effective Date of the Scheme and on which date the certified copy of the Hon’ble NCLT, Chandigarh Bench’s order will be filed with the Registrar of Companies.

The Appointed Date of the Scheme is April 1, 2020 i.e., the Effective Date, as set out in the Scheme and approved by the’ Hon’ble NCL T, Mumbai Bench and Chandigarh Bench. All the assets and liabilities of Transferor Company shall become assets and liabilities of the Transferee Company with effect from the Appointed Date.

In accordance with the Scheme, the shareholders of the Transferor Company as on the Record Date will be issued and allotted 4.39 (four decimal three nine) equity shares of the Transferee Company having a face value INR 1 (Indian Rupee One) each, as fully paid-up, for every 1 (one) equity share of the Transferor Company having a face value INR 10 (Indian Rupees Ten) each, held by them. In this regard, the Board of the Transferor Company has approved and fixed the Record Date as April 17, 2020.

Shares of GLAXOSMITHKLINE CONSUMER HEALTHCARE LTD. was last trading in BSE at Rs.9993.1 as compared to the previous close of Rs. 9452.1. The total number of shares traded during the day was 485 in over 239 trades.

The stock hit an intraday high of Rs. 10015 and intraday low of 9522.05. The net turnover during the day was Rs. 4792952.

Shares of HINDUSTAN UNILEVER LTD. was last trading in BSE at Rs.2298.15 as compared to the previous close of Rs. 2187.1. The total number of shares traded during the day was 63684 in over 5472 trades.

The stock hit an intraday high of Rs. 2311.85 and intraday low of 2187.1. The net turnover during the day was Rs. 143971708.-Equity Bulls