With reference to Composite Scheme of Arrangement between Strides Shasun, SeQuent Scientific and Solara Active Pharma Sciences, Strides announced that Solara has completed the allotment of equity shares on 11 April 2018 as required under the Composite Scheme to the shareholders of the Company who are holding shares of the Company as at the Record Date i.e., 09 April 2018.
The share entitlement ratio for allotment of shares under the Composite Scheme is 1 (one) equity share of Rs. 10/- each of Solara for every 6 (six) equity shares of Rs. 10/- held by the shareholder in Strides.
The equity shares so allotted by Solara shall be subsequently listed on the BSE and National Stock Exchange of India as provided in the Composite Scheme.
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