Board of Alembic accords in-principle approval for scheme of arrangement

At meeting held on 11 September 2018

The Board of Alembic at its meeting held on 11 September 2018 has inter alia considered and accorded 'in-principle' approval to the proposal to demerge the Identified Real Estate Undertaking of the Company into Shreno, an unlisted public limited company, to be implemented by way of a Scheme of Arrangement.

The Identified Real Estate Undertaking proposed to be demerged would comprise of:
i) A premium residential real estate project of Alembic;
ii) Interest in real estate business held through investment in Shreno; and
iii) Project Management Consultancy ('PMC') business, services of which are provided by the Company to Shreno.

 

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