Good news for the shareholders of Fresenius Kabi Oncology. Finally, after a wait of 1.5 years, NCLT has passed an order to give an exit route to all the minority shareholders. The history and offered price are explained below.
1. Fresenius Kabi Oncology in the year 2018 has filed a case in NCLT for capital reduction.
They have proposed to reduce the number of shares from 17,02,47,857 equity shares of INR 1 (Indian rupee one) to 16,52,32,882 equity shares of INR 1 (Indian rupee one) each by canceling and extinguishing in the aggregate, approximately 2.95% (two point nine five percent) of the total issued, subscribed and paid-up share capital of the Company, consisting of 50,14,975.
2. As per the annual report 2018-19, total shares held by promoters were 97.05% and minority shareholders were 2.95%.
3. So, the company has given exit to all the minority shareholders.
4. The company has decided to pay Rs. 58.40 per share in lieu of their shares being extinguished in accordance with the NCLT order.
The minority shareholder should immediately contact the company and surrender their shares.
For Resident Shareholders:
The company will pay the amount after deducting 7.5% TDS to the eligible shareholders.
For Non- Resident Shareholders:
The company will pay the amount after deducting 20% TDS to the eligible shareholders.
For more detail please follow the below link.