Brief: Zee Learn to not go ahead with Tree House merger

Zee Learn

01/06/2016 12:09

June 1 (Reuters) - Zee Learn Ltd  ZEEE.NS : 
 * Zee learn - co to not go ahead with agreed share exchange ratio of 53 shares 
   of INR 1 each for 10 equity shares of INR 10 each of tree house 
 
 * Source text: 
Zee Learn Limited has informed the Exchange that the Board of Directors of the Company at their meeting held on June 1, 2016, the Board of Directors has decided the following:1. Zee Learn Ltd will not be going ahead with the currently agreed share exchange ratio of 53 fully paid equity shares of INR 1each of Zee Learn Limited for 10 fully paid equity shares of INR 10 each of Tree House.2. Re-constitution of the Merger Evaluation Committee (MEC) with the authority to look into and suggest ways to salvage the deal with THEAL which will best keep the interest of Zee Learn Ltd's stakeholders intact.3 .The MEC to appropriately inform THEAL of the above decisions. 
 
 
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