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| Exchange Disseminated Time | The Exchange had sought clarification from the company with respect to news appearing in The Economic Times on February 3, 2015 titled "Spicejet Looks to Induct Ajay Singh on its Board."
Spicejet Ltd replied stating "You are requested to refer our letter dated January 29, 2015 wherein it was informed to your good office that the Board of Directors of the Company at its meeting held on January 29, 2015 has taken on record the Share Sale and Purchase Agreement dated January 29, 2015 between the Company, Mr. Kalanithi Maran, Kal Airways Private Limited and Mr. Ajay Singh pursuant to which the existing Promoters (i.e. Mr. Kalanithi Maran and Kal Airways Private Limited) have agreed to sell and transfer their entire shareholding aggregating to 350,428,758 equity shares (58.46%) to Mr. Ajay Singh.
Kindly note that as per Civil Aviation Requirements, the Company has filed an application with Ministry of Civil Aviation, Government of India for security clearance of Mr. Ajay Singh for his appointment as Director of the Company. Appropriate intimation will be provided by the Company after the appointment of Mr. Singh as Director of the Company." |
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