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| Exchange Disseminated Time | Alkem Laboratories Ltd has informed BSE that some of the promoters of Alkem Laboratories Limited (“Company”) comprising of Mr. Samprada Singh and his lineal descendants, Mr. Balmiki Prasad Singh, Mrs. Manju Singh, Mr. Sarandhar Singh, Mr. Srinivas Singh, Mr. Satish Kumar Singh, Mrs. Premlata Singh, Mr. Sarvesh Singh, Mrs. Annapurna Singh, Mr. Sandeep Singh and Mrs. Inderjit Arora; and the Samprada Singh HUF have entered into a family settlement on March 23, 2016 with a view to ensure preservation of the shareholding and control of the Company within the family.
Pursuant to the family settlement, the aforementioned members of the family will transfer their shareholding to a family trust. The transfer to the trust will be done only after receipt of an exemption under the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011 from the Securities and Exchange Board of India. It is to be noted that such an arrangement will not result in any change in management and control of the Company. |
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