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BRIEF-Strides Shasun approves scheme of arrangement with Sequent Scientific, SSL Pharma Sciences
March 20, 2017 / 11:29 AM / 7 months ago

BRIEF-Strides Shasun approves scheme of arrangement with Sequent Scientific, SSL Pharma Sciences

March 20 (Reuters) - Strides Shasun Ltd

* 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: bit.ly/2ndsYzT Further company coverage:

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