The company made this announcement during trading hours today, 15 June 2012. Meanwhile, the BSE Sensex was up 204.07 points or 1.22% to 16,881.95. On BSE, 1.07 lakh shares were traded in the counter as against average daily volume of 13,000 shares in past two weeks. The stock hit a high of Rs 244.90 and a low of Rs 234.30 so far during the day. In the event the proposed issuance of bonus shares of Jyothy Laboratories by way of issue of 1 new equity share of face value of Re 1 for every 1 existing equity share held by the shareholders is not approved by the shareholders of Jyothy Laboratories under the relevant provisions of the Companies Act 1956, one fully paid-up equity share of Re 1 each of the company will be issued for every eight fully paid-up equity shares of Rs 10 each held in Henkel India. In the event the proposed issuance of bonus shares of the company by way of issue of 1 new equity share of face value of Re 1 for every 1 existing equity share held by the shareholders is approved by the shareholders of of Jyothy Laboratories under the relevant provisions of the Companies Act 1956, one fully paid-up equity share of Re 1 each of the company will be issued for every four fully paid-up equity shares of Rs 10 each held in Henkel India. As per the scheme of amalgamation, all equity shares and preference shares which Jyothy Laboratories holds in Henkel India (either directly or through nominees) will get cancelled and no new shares will be issued or payment made in cash in this regard, the company said. As on date, Jyothy Laboratories holds 83.66% stake in Henkel India. Henkel India makes home care, fabric care, dish wash, personal care and household cleaning products. Some of Henkel India's key brands are Henko, Mr. White, Pril, Fa, Neem and Margo. Jyothy Laboratories' net profit rose 21.4% to Rs 27.93 crore on 40.3% growth in net sales to Rs 218.83 crore in Q4 March 2012 over Q4 March 2011. Jyothy Laboratories manufactures and distributes brands across product categories as diverse as fabric care, household insecticides, utensil cleaners, fragrances, personal care, besides marketing tea and coffee brands. Powered by Capital Market - Live News |