HLL Board to consider merger of MFIL on Sep 8

Mumbai, Sep 4 (UNI) The FMCG major Hindustan Lever Ltd today said a Board meeting is being convened on September eight, 2006, to consider a proposal for merger of Modern Food Industries Limited (MFIL) with the company.

Announcing this in separate notices to BSE and NSE, the company said the Board meeting will also settle the draft Scheme of merger deciding the share exchange ratio, after considering the valuation report and all other related and incidental matters.

It will also consider a proposal to demerge the assets of Modern Foods Ltd (MFL) at Jamnagar, Shamnagar and Daverashola plantations in Tamil Nadu into one or more subsidiaries, as the Resultant Company and settle a Scheme of arrangement for the said purpose.

The Board of MFIL will also independently meet the same day, subsequent to HLL meeting, to consider the aforesaid proposal for merging with the Company.

UNI SN MJ SKB2007