Macmillan India Ltd has informed BSE that a meeting of the Board of Directors of the Company will be held on February 25, 2009, inter alia, for considering the following business:
1. Audited Accounts for the year ended December 31, 2008.
2. Dividend, if any that may be declared by the Board for the year ended December 31, 2008.
Did anyone get the 69 Rs that they are supposed to pay the shareholders for the delisted stock based on option? I havenot received any until now. Also, has anyone received the stock certificated if you have chosed the option to stay as shareholder in the delisted company. Any information on this would be appreciated.
Yes, received Demand Draft of HSBC/ payable par at corporation bank local branch. Issued on Dt.03/03/2009. By reg.AD Post today. Do you know about account`s entry?
Demerger of publishing business and undertaking of Macmillan India Ltd (MIL) to MacMillan Publishers India Ltd.(MPIL) - scheme of demerger sanctioned by Hon`ble Madras High court in ratio of 1:1
And as per demerger scheme given 3options. 1)Buy more at Rs69/- per share new unlisted share as above.
2)Held new unlisted allotted share in ratio of 1:1
3)surrender the new share automatically buy back at Rs.69/- per share.
If investor not selected option 1 or 2, it will be automatically selected option 3 & received Rs.69/- per share. without any formalities.
Is it a good idea to continue holding the unlisted company share and return the cheque? Rs 69 per share appears quite less for the book publising business, which is quite profitable.
FYI, if you are interested to hold the shares, you can still return the cheque. So the option to hold the shares is still open. The only issue is liquidity, as the publications company share is not listed now.
I have not opted and retained the demerged entity. But one of our client had given MPIL and got the payment back. I have received the MPIL share certificate.
| NIFTY 
