The Board of Directors of Suven Life Sciences has recommended for approval several matters in the ensuing Extra-Ordinary General Meeting that is going to be held on January 5th, 2004. It has approved an increase of FII limit upto 40 per cent for enabling FII to acquire shares of the company, sub-division of equity shares into face value of Rs. 2/- each from the present face value of Rs. 10/- each.
Offer of equity shares not exceeding 10,00,000, a price as per SEBI Guidelines or higher, on preferential basis to FII/Banks/Bodies/Corporates/Financial Institutions or its nominees or affiliates.
Merger/amalgamation of Suven Synthesis Limited into Suven Life Sciences Limited subject to approval of High Court of Andhra Pradesh, shareholders, creditors, and other authorities.