Business Daily from THE HINDU group of publications
Monday, March 31, 2008 ePaper | Mobile/PDA Version
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Business Daily from THE HINDU group of publications Monday, March 31, 2008 ePaper | Mobile/PDA Version |
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News Update as at 18.00 hrs (IST)
Corporate Thomas Cook UK buys out entire stake in TCIM MUMBAI: Thomas Cook India Ltd has informed the BSE that the board at its meeting held on March 30, Thomas Cook UK Ltd has acquired 100% of the shareholding of TCIM Ltd. TCIM Ltd currently holds 54.42% of the paid up equity share capital of the company and Thomas Cook UK Ltd shall, therefore, indirectly control 54.42% of the total paid up capital of the company. An open offer under the Securities and Exchange Board of In dia (Substantial Acquisition of Shares and Takeovers) Regulation 1997 ("SEBI Takeover Code") made by Thomas Cook UK Ltd is currently in progress. The board has effected its reconstitution in accordance with Regulation 22(7) of the Takeover Code and a certificate from Kotak Mahindra Bank Ltd (the banker to the open offer) stating that 100% of the offer consideration payable to the public shareholde rs had been deposited in an escrow account.
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