Allied Resins & Chemicals Ltd has informed BSE that the Board of Directors of the Company at its meeting held on February 12, 2010, inter alia, decided in principle to merge the Company with ARCL Organics Ltd and further decided followings:

(i). M/s. L. B. Jha & Co., Chartered Accountants be appointed to undertake valuation of equity shares of the Company and to suggest the share valuation ratio.

(ii). VC Corporate Advisors Pvt Ltd be appointed as Merchant Banker to give fairness report on the share exchange ratio suggested by Ms. L. B. Jha & Co., Chartered Accountants.

Further the Company has informed that the meeting of the Board of Director will be held on February 23, 2010, inter alia, to discuss the valuation of share of the Company.