CONFIDCEM Court Order approving Demerger - Share market analysis of dhaka stock exchange, Bangladesh

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01 April, 2018 04:30 PM Source: Dhaka Stock Exchange

The Company has informed that the Hon'ble High Court Division of the Supreme Court of Bangladesh has passed an Order in the Company Matter No. 192 of 2017, approving the Scheme of Arrangement for Demerger of the Battery Business of Confidence Electric Limited to Confidence Batteries Limited, in accordance with Section 228 and 229 to be read with Sections 59 & 60 of The Companies Act, 1994. Furthermore, it has been ordered that the demerger of demerged and resulting companies shall be deemed to be effective from the date of the certified of this judgement and Order i.e. on March 28, 2018 and as decided by the board of directors of all the two companies, is delivered to RJSC&F for registration upon receipt of this judgement.


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