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Exchange Received Time  04/10/2018 17:09:28 Exchange Disseminated Time 04/10/2018 17:09:35 Time Taken 00:00:07 | We wish to inform the Exchanges that the Company was not involved in any slump sale or transfer of investments in Nitesh Office Parks Private Limited (NOPPL). - NOPPL had made private placement of securities under Section 42 of the Companies Act, 2013 to a new investor. The Offer was not made to the existing shareholders and the same was approved by shareholders by way of passing special resolution at the extra ordinary General Meeting of NOPPL. - The further issue of shares by NOPPL in compliance with the applicable provisions of the Companies Act, 2013 and the rules made there under has increased the total paid up capital of the NOPPL and in turn the percentage of share capital held by Nitesh Estates Limited (NEL) has been reduced to 19.23%. - However the number of shares held by NEL in NOPPL has not been altered. The investment by the Company in NOPPL still exist, but the subsidiary status has changed due to the further increase in equity share capital of NOPPL. - The previous and existing capital structure of NOPPL is as under: Previous Structure Current Structure No. of Shares % of holding No. of Shares % of holding NEL 49999 100% 49999 19.23% L.S Vaidyanathan 1 0.00% 1 0.00% New Investor Nil Nil 210000 80.77% Total 50000 100 260000 100 |
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