Announcement under Reg 30(LODR)- update on Merger
LANCORHOL · price
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The Hon'ble NCLT Chennai Bench has sanctioned the Scheme of Amalgamation of Lancor Maintenance & Services Limited (wholly owned subsidiary, Transferor) with Lancor Holdings Limited (Holding Company, Transferee). The appointed date is 1st April, 2024. The merger is exempt from SEBI (LODR) Regulation 23(5)(b) as it involves a wholly owned subsidiary. No cash consideration or share exchange is involved — the Transferee's investment in the Transferor's equity shares will simply be cancelled. Lancor Maintenance & Services had nil turnover for FY2025 (as per last audited financials), while Lancor Holdings reported turnover of Rs. 105.42 crore. The Scheme becomes effective upon filing the certified order with the Registrar of Companies, Chennai.
No direct change in shareholding pattern is expected as this is a pure consolidation of a dormant wholly owned subsidiary into its parent. Shareholders should note that the Transferor had nil operating revenue and its net worth of Rs. 6.60 crore is largely represented by a property advance of Rs. 7.73 crore.