At meeting held on 11 September 2018The 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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