Cello World Limited has officially confirmed the compensation of shareholders eligible for fractional entitlements resulting from the composite scheme of amalgamation. The company’s Audit Committee and Independent Directors have certified that all eligible shareholders of Wim Plast Limited have been duly compensated for their fractional shares. This follows the successful amalgamation of Wim Plast Limited, Cello Consumer Products Private Limited, and Cello World Limited.
Shareholder Compensation Confirmed Post-Amalgamation
Cello World Limited has formally announced the completion of compensation for eligible shareholders who were entitled to fractional shares arising from the composite scheme of amalgamation. This significant step involved the amalgamation of Wim Plast Limited (WPL), Cello Consumer Products Private Limited (CCPPL), and Cello World Limited (CWL).
Independent Verification of Compensation
The confirmation comes through reports from both the Audit Committee and the Committee of Independent Directors of Cello World Limited. These committees, after a thorough review of all necessary documents, have certified that the company has successfully compensated shareholders of Wim Plast Limited who were eligible for fractional entitlements. This process aligns with Clause 8.5 and 16.7 of the sanctioned Scheme and the requirements of the SEBI Master Circular.
Details of Fractional Share Treatment
As per the Scheme, fractional shares were consolidated into whole units. A total of 8,395 Equity Shares of face value INR 5/- each were consolidated. These were then allotted to an Independent Trustee, Mitcon Credentia Trusteeship Services Limited, on June 09, 2026. The Trustee subsequently sold these consolidated fractional shares on September 03, 2026, generating proceeds of ₹28,60,736.51. After deducting expenses and charges, the net sale proceeds of ₹28,48,395.51 were distributed to the eligible shareholders on September 08, 2026, in proportion to their fractional entitlements, after accounting for applicable TDS.
Committees’ Certification
The Audit Committee and the Committee of Independent Directors have both issued their respective certifications. They attest that the proceeds from the sale of fractional entitlements have been distributed accurately to the eligible shareholders, adhering to the terms of the SEBI Master Circular and the composite scheme of amalgamation.
Source: BSE
