Emkay Tools Limited has successfully completed the allotment of equity shares following the Scheme of Arrangement between Emkay Taps and Cutting Tools Limited (the Demerger Company) and Emkay Tools Limited (the Resulting Company). This important step follows the approval of the National Company Law Tribunal (NCLT), Mumbai, which sanctioned the Scheme on October 28, 2024. The Scheme of Arrangement became effective on November 19, 2024, marking a significant transition for both companies.

As part of the Scheme, Emkay Tools Limited allotted 1 fully paid-up equity share with a face value of INR 1/- each for every 1 fully paid-up equity share with a face value of INR 10/- each held in Emkay Taps and Cutting Tools Limited as of the Record Date of December 4, 2024. This share allotment is a crucial aspect of the demerger process, reflecting the completion of the corporate restructuring and the shift of assets and liabilities between the two entities.

The equity shares allotted to the shareholders of Emkay Taps and Cutting Tools Limited have been credited in dematerialized form after receiving the necessary approvals from Depositories and the Registrar and Transfer Agents (RTA). This ensures that the shareholders who held equity shares of the Demerger Company as on the Record Date are now registered as shareholders of the Resulting Company, with the allotted shares reflecting in their respective demat accounts.

This transition marks a new chapter for Emkay Tools Limited, which is now positioned to focus on its own growth and operations. With the successful completion of the share allotment, the company is poised to move forward with enhanced focus on its business goals and shareholder value. The allotment, conducted in line with the Companies Act, 2013, and under the terms of the Scheme of Arrangement, provides clarity and transparency for investors and stakeholders involved.

The approval of the NCLT ensures that the process adheres to legal and regulatory requirements, offering a solid foundation for the Resulting Company’s operations moving forward. The successful completion of the Scheme and the allotment of shares will likely lead to a positive impact on the company's stock performance, as it aligns with the expectations of investors who have been following the corporate restructuring process.

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