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| Exchange Disseminated Time 20/12/2016 18:11:03 | With reference to the earlier letters dated September 27, 2011, March 19, 2012, June 08, 2012 and December 17, 2012 wherein the Company had communicated that an investor of Arena Bilgisayar Sanayi ve Ticaret A.S, Turkey (Arena) had filed a case against the Capital Markets Board, Turkey (CMB) for not having directed the Company's subsidiary Redington Turkey Holdings Sarl (RTHS) to launch a Mandatory Tender Offer (MTO) in relation to acquisition of 49.4% stake in Arena in November 2010. RTHS had also intervened in the lawsuit as codefendant alongside the CMB.
Redington (India) Ltd has now informed BSE that the Company have been informed by the Company's subsidiary that the Turkish Council of State has issued its verdict rejecting the claims of the plaintiff, including the requirement of RTHS to carry out a MTO. The plaintiff has the option to appeal against this verdict within 30 days. |
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