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Shareholders approve Keya Cosmetics Amalgamation plan

The shareholders of Keya Cosmetics Ltd has approved the draft Scheme of Amalgamation of Keya Knit Composite Limited, Keya Cotton Mills Limited and Keya Spinning Mills Limited (transferor companies) with Keya Cosmetics Limited (transferee company). The approval came in the recently held AGM of the company, said a press release. As per valuation, each ordinary share of the Keya Cosmetics Limited is Tk. 26.00,  Keya Knit Composite Ltd. is Tk. 19.00, the Keya Cotton Mills Ltd. is Tk. 37.00 and the Keya Spinning Mills Ltd. is Tk. 41.00 against their face value of Tk. 10.00 each and recommended exchange of 1.36842 ordinary share of Keya Knit Composite Limited, 0.70270 ordinary share of Keya Cotton Mills Limited and 0.63414 ordinary shares of Keya Spinning Mills Limited for 1(one) ordinary share of Keya Cosmetics Limited. Now a sanction of the High Court Division of the Supreme Court of Bangladesh is needed to finalise the amalgamation.



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