United Drilling Tools Ltd has informed BSE that the Board of Directors of the Company at its meeting held on July 31, 2010, unanimously approved, in-principle, the proposed amalgamation of P & K Hightech Systems Pvt. Ltd. with the Company and other connected matters. The aforesaid Board decision is subject to further approval by the Shareholders of the Company and other competent authorities. United Drilling Tools Ltd has informed BSE that the Board of Directors of the Company at its meeting held on September 04, 2010, fixed the following share exchange ratio for the purpose of the proposed amalgamation of P & K Hightech Systems Pvt. Ltd. with United Drilling Tools Ltd : - 1 (One) Equity Shares of Rs. 10 each, credited as fully paid-up, of the Transferee Company for every 1 (one) Equity Shares of Rs. 10/- each held in the Transferor Company. The Board has unanimously approved the draft Scheme of Amalgamation, etc., relating to the aforesaid amalgamation. Decision of the Board is subject to further approval of the concerned High Court (s) and other competent authorities. if any. (As Per BSE Announcement Website dated on 14.09.2010) United Drilling Tools Ltd has informed BSE that, in supersession of the Board resolution dated September 04, 2010, the Board of Directors of the Company at its meeting held on January 12, 2011, unanimously approved the revised draft Amalgamation of P & K Hightech Systems Pvt Ltd with United Drilling Tools Ltd. The Board also approved the following revised Share Exchange Ratio for the purpose of Merger: 1. The Transferee Company will issue 79 (seventy nine) Equity Shares of Rs. 10 each, credited as fully paid-up, of the Transferee Company for every 200 (two hundred) Equity Shares of Rs. 10 each held in the Transferor Company. 2. The Transferee Company will issue 115 (one hundred fifteen) 12% Cumulative Compulsory Redeemable Preference Shares of Rs. 100 each, credited as fully paid-up, of the Transferee Company, for every 1,000 (one thousand) Equity Shares of Rs. 10 each held in the Transferor Company. The aforesaid decision of the Board is subject to subsequent approval by the members of these Companies, the Hon'ble High Court and other competent authorities, if any. (As Per BSE Announcement Website dated on 13.01.2011) United Drilling Tools Ltd has informed BSE that the Company held an meeting of the shareholders and unsecured creditors under the supervision of the Hon'ble high court on September 10, 2011 at 3.30 P.M. and 4.30 P.M. in order to approve with or without modification the scheme of amalgamation of P & K Hightech Systems Pvt. Ltd. with United Drilling Tools Ltd. Accordingly the members passed the resolution and approved the Scheme without any modification. (As Per BSE Annoncement Website Dated on 19/09/2011) United Drilling Tools Ltd has informed BSE that the Board of Directors of the Company at its meeting held on November 20, 2012, inter-alia has issued and allotted 10,01,167 12% Non-Cumulative Compulsorify Redeemable Preference Shares of Rs. 100 each to the Shareholders of the Transferor Company- P & K Hightech Systems Pvt Ltd, in terms of the Scheme of Amalgamation of P & K Hightech Systems Pvt Ltd with United Drilling Tools Ltd as approved by the Hon'ble Delhi High Court vide order dated March 06, 2012, and other connected matters. (As per BSE Announcement Dated on 20.11.2012)