By Vivek K. Mobile: 09920183006 Email:firstname.lastname@example.org
DIL Ltd. (BSE: DIL) today announced that the Board of Directors at its meeting held on June 18, 2018 has recommended the split/sub-division of shares of the Company from face value of Rs.10 (Rupees Ten) each to face value of Rs. 5 (Rupees Five) each, and issue of Bonus equity shares in the proportion of 1:1. The same is subject to the approval of the shareholders and the record date/s for the split/sub-division and bonus will be intimated in due course.
As part of its overall Business Restructuring exercise, the Board also announced that it has called for a separate Board Meeting on June 21, 2018 to consider scheme of Amalgamation between the Company and its subsidiary, Fermenta Biotech Limited.
In addition, the Board has also recommended to alter the Objects Clause of MOA to allow the company to conduct the business of sustainable environmental solutions either on its own or through collaboration.
The company announced that rationale behind the split is to improve the liquidity of the Company’s equity shares and to make them more affordable for the small retail investors who want to invest in the Company.
About DIL Limited:
DIL holds 91.2% equity stake in Fermenta Biotech Limited (FBL), which was incorporated in 1986. FBL is engaged in manufacturing of Vitamin D3, other specialty API’s, biological enzymes and also offers integrated biotech based environmental solutions. FBL has 2 manufacturing facilities:
- Kullu in Himachal Pradesh – cGMP certified and currently manufactures vitamin D3, specialty
API’s and Enzymes
- Dahej SEZ – set up in 2011 and manufactures Vitamin D3
DIL has developed premium office spaces named ‘THANE ONE’, with a total leasable area of 200,000
sq. ft., which is currently about 95% occupied.
For more information about the Company and its businesses, please visit our website www.dil.net
Statements in this document relating to future status, events, or circumstances, including but not limited to statements about plans and objectives, the progress and results of research and development, potential project characteristics, project potential and target dates for project related issues are forward-looking statements based on estimates and the anticipated effects of future events on current and developing circumstances. Such statements are subject to numerous risks and uncertainties and are not necessarily predictive of future results. Actual results may differ materially from those anticipated in the forward-looking statements. The company assumes no obligation to update forward-looking statements to reflect actual results changed assumptions or other factors.