HEG Ltd will implement its demerger from September 1, creating two separately listed companies focused on graphite electrodes and advanced materials. The company has fixed September 7 as the record date to determine shareholder entitlement under the composite scheme of arrangement, according to an exchange filing on Tuesday.
Under the demerger, shareholders of HEG as on the record date will receive one fully paid-up equity share of face value Rs 2 in the resulting company for every one equity share of face value Rs 2 held in HEG. This means shareholders will get shares in the new company in a 1:1 ratio.
