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| Exchange Received Time 27/07/2018 16:22:56 Exchange Disseminated Time 27/07/2018 16:23:02 Time Taken 00:00:06 | We wish to now inform you that:
1.The board of directors of the Company has taken on record the resolution dated July 23, 2018 passed by the board of directors of JPL recording that the aforementioned evaluation process is on-going and that any fund raising which may be undertaken by JPL will be by way of an IPO and that the maximum dilution of the Company's shareholding in JPL in the IPO (including any sale of shares of JPL by the Company) will be up to 20% of the fully diluted issued and paid-up equity share capital of JPL.
2.The board of directors of the Company approved that, should an opportunity be provided to the Company in any fund raising by JPL, the Company may offer up to 5.00% of the ordinary equity share capital of JPL for sale.
The Company will provide further updates in this regard, if and when necessary.
We request you to take the same on record.
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