The Board of Directors of Fairchem Speciality Limited (FSL) and Privi Organics India Limited (POIL) at their respective meetings held on May 22, 2019, have, inter alia, subject to various approvals, considered and approved a composite scheme of arrangement and amalgamation (Transaction), for: ?? Demerger of the speciality oleo chemicals and nutraceuticals business of FSL into Fairchem Organics Limited (FOL, a wholly owned subsidiary of FSL) ?? Amalgamation of POIL, manufacturers of aroma chemicals, a wholly owned subsidiary of FSL, into and with FSL.