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Deccan Chronicle Holdings to merge subsidiaries

29-December-2009
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Deccan Chronicle Holdings to merge subsidiaries

Deccan Chronicle Holdings Ltd has informed the NSE that its Board of Directors at a meeting held on December 28, 2009, had inter-alia approved a Scheme of Amalgamation for merger of the company’s wholly-owned subsidiaries – viz., Asianage Holdings Ltd, Deccan Chronicle Bangalore Ltd, and Sieger Solutions Ltd.

The appointed date of the Amalgamation is April 1, 2009 and the Scheme is subject to the sanction of the High Court of Andhra Pradesh, Hyderabad. The transferor companies being wholly-owned subsidiaries, no fresh shares would be issued by the company upon the Scheme coming into effect.

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