Brief: Strides Shasun approves scheme of arrangement with Sequent Scientific, SSL Pharma Sciences

Viyash Scientific

20/03/2017 11:05

March 20 (Reuters) - Strides Shasun Ltd  STSA.NS  
    * Says approval of composite scheme of arrangement between 
co, Sequent Scientific, SSL Pharma Sciences Limited 
    * Says board approved share entitlement ratio of 1 share of 
SSL for every 6 shares held by them in Strides 
    * Says API business of co, Human API business of Sequent 
will be demerged to SSL 
    * Based on recommended share entitlement ratio, Strides 
shareholders and Sequent shareholders will hold about 60 percent 
and 40 percent respectively of SSL 
    * Says capital base of new co will be about 250 million 
rupees 
    * Sequent Scientific to get 1 share of SSL for every 25 
shares held by them in Sequent 
    * Appointed date for demerger will be Oct 1, 2017 
    * Equity shares of SSL will be listed in BSE and NSE 
 
Source text: http://bit.ly/2ndsYzT 
Further company coverage:  STSA.NS  
 
 ((Bangalore.newsroom@thomsonreuters.com;))