Held on 18 October 2014
Panasonic Appliances India Company announced that the Board of Directors of the Company at its meeting held on 18 October 2014, has considered and approved the following:1. The proposal received from the Promoters, Panasonic Corporation vide their letter dated 17 October 2014 on the intention to delist the Equity Shares of the company from the Stock Exchanges in accordance with SEBI (Delisting of Equity Shares) Regulations, 2009.
2. The resignation submitted by Harshad Reddy, representative of the Indian Promoter on the Board from the Directorship of the Company consequent to the transfer/sale of shares held by the Indian Promoter.viz, P. Obul Reddy Group to Panasonic Corporation.
3. To convene a meeting of the Board of Directors on 28 October 2014 to consider seeking approval of shareholders through Postal Ballot for the voluntary delisting of equity shares proposed by Panasonic Corporation in terms of SEBI (Delisting of Equity Shares) Regulations, 2009.
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