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| Exchange Disseminated Time 09/02/2017 16:09:07 | Kartik Investments Trust Ltd has informed BSE that the Board of Directors of the Company at its meeting held on February 09, 2017, inter alia, have noted and placed on record the intention letter dated February 03, 2017 received from the M/s. Chola Business Services Limited (on behalf of the promoter and promoter group) expressing its intention to make an offer to voluntarily delist the Company's equity shares from The BSE Limited (BSE) by acquiring all equity shares held by public shareholders in accordance with Securities and Exchange Board of India (Delisting of Equity Shares), Regulations 2009 ("Delisting Regulation").
The Board of Directors of the Company further noted that in terms of Regulation 8 of the Delisting Regulations, the proposal for delisting is required to be approved by the Board of Directors of the Company after taking into account a due diligence certificate from a Merchant Banker appointed for the purpose of preparing such due diligence certificate. Further, the Board of Directors of the Company are also required to obtain the approval of its shareholders by way of a special resolution (through postal ballot) and obtain an in-principal approval from BSE.
The Board of Directors of the Company appointed "Karvy Investor Services Limited" as Merchant Banker for carrying out the aforesaid due diligence as required under the Delisting Regulations and for other incidental activities in connection with the delisting process.
The Board will again meet after the receipt of the due diligence report from the Merchant Banker.
The meeting of the Board of Directors commenced at 2.30 p.m. and concluded at 3.45 p.m. |
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