At its meeting on 14 January 2022, the Board of Mangalam Cement approved the allotment of 8,03,518 fully paid-up equity shares of Mangalam Cement (‘MCL’ or ‘Company’), of face value 10/- each, to eligible shareholders of Mangalam Timber Products (‘MTPL’) (as on the record date of January 06, 2022), in the share exchange ratio of 1: 22 as provided in the Scheme of Amalgamation as approved.
Furthermore, during the process of allotment of shares as per Share Exchange Ratio as provided in the Scheme of Amalgamation, 8814 fully paid-up equity shares of MCL (included within the aforementioned 8,03,518 fully paid-up equity shares) are allotted to Manoj Kumar, Company Secretary of the Company towards fractional entitlements of MTPL shareholders for the benefit of MTPL shareholders.
With the allocation, the Company’s equity share capital has grown to 2,74,97,298 equity shares of Rs. 10 each, for a total of Rs. 27,49,72,980/-.