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| Exchange Received Time 14/11/2018 15:44:57 Exchange Disseminated Time 14/11/2018 15:44:59 Time Taken 00:00:02 | The Board of Directors ('Board') of the Company, at its meeting held today, discussed the potential restructuring of the Company's business to segregate the coffee business of the Company and its subsidiaries from their non-coffee businesses (including integrated multimodal logistics, financial services, development and management of commercial space, hospitality services and investment operations).
The Board has approved the appointment of financial, tax and legal advisors and has provided authority to appoint other advisors, as necessary, in connection with the potential restructuring and has asked the senior management to evaluate options for the potential restructuring. Kotak Investment Banking has been appointed as the financial advisor, Cyril Amarchand Mangaldas has been appointed as the legal advisor and Dhruva Advisors LLP has been appointed as the tax advisor to the Company for evaluating the merits of the potential restructuring. The senior management will, in consultation with the Company's advisors, prepare and present a draft restructuring proposal enumerating options for the Board's consideration in due course.
Please note that currently no decision to undertake any restructuring of the Company has been approved by the Board. The Company will make appropriate public disclosures in accordance with the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 and other applicable laws as and when there is an event requiring disclosure in relation to the potential restructuring.
This is for your information and records.
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