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| Exchange Disseminated Time 24/03/2016 12:33:53 | Prestige Estates Projects Ltd has informed BSE that the Board of Directors of the Company at its meeting held on March 24, 2016, have accorded their in-principle approval for the merger of its wholly owned subsidiaries, Downhill Holiday Resorts Private Limited, Foothills Resorts Private Limited, Pennar Hotels and Resorts Private Limited and Valdel Xtent Outsourcing Solutions Private Limited with the Company.
The Company is also under discussions and is in the process of finalizing the Merchant Bankers and Transaction Advisors for the proposed merger.
The Board has also at the above said Board meeting approved/ taken note of the following changes in Key Managerial Personnel of the Company:
- Resignation of Mr. Venkat K Narayana as Company Secretary and Compliance Officer with effect from March 24, 2016. Mr. Venkat K Narayana continues in his capacity of Chief Financial Officer and Executive Director - Finance.
- Appointment of Mr. M. Sridhar, as Company Secretary and Compliance Officer with effect from March 24, 2016. |
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