- For the merger or acquisitionto take place, the Board of Directors’ resolution of each merging company approving the transaction along with a draft plan for the auditors’ review required;
- An application to a Court for a meeting to be scheduled between parties of merging companies accompanied by the sworn statement (an Affidavit) of each merging company respectively is filed on behalf of the companies involved;
- After the leave of the Court is obtained, separate meetings of shareholders and creditors of the merging companies are convened respectively;
- The reorganization plan is then approved by the shareholders of each merging company whereas the shareholders of the Absorbing company will also approve the reduction of capital
- A report of the Chairman of the shareholders’ meeting of each of the merging companies will need to be drafted;
- A report of the Chairman of the creditors’ meeting (where applicable) of each of the merging companies will need to be drafted;
- After the merger plan is approved a petition for the merger final approval by the Court is filed. A sworn statement (an Affidavit) of each company director is required to be enclosed to the petition filed with the Court;
- A copy of the merger plan and the Court Order is also required to be filed with the Department of Registrar of Companies for the registration of the merger.
