|
| Exchange Received Time 01/11/2018 19:54:25 Exchange Disseminated Time 01/11/2018 19:54:31 Time Taken 00:00:06 | We refer to our disclosures dated June 23, 2017 and July 28, 2017, made pursuant to Regulation 30 read with Para A of Part A of Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and the Company's Policy on Determination of Materiality of Events, concerning the investment up to Rs. 7,00,00,000/- (Rupees Seven Crores only) by CEAT Limited in Tyresnmore Online Private Limited ('Target Company'), in one or more tranches.
Further to the aforesaid, we wish to inform you that the Company has now made an investment of second & last tranche by subscribing to 12,741 Compulsorily Convertible Preference Shares, having face value of Rs. 1 (Rupees One) each summing up to an approximate amount of Rs. 3,00,00,000/- (Rupees Three Crores only) and thereby acquiring 6.67% of the total share capital of the Target Company.
With this investment, the total holding of CEAT Limited in the Target Company on fully diluted basis will be 33.33%.
|
|
|