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Panacea Biotec Ltd. - Outcome of Board Meeting

| Updated on May 30, 2019 Published on May 30, 2019

Pursuant to Reg 30 of SEBI LODR Regulations, the Board has, at its meeting held today, inter-alia, considered and approved the following:-

1.Audited Financial Results (Standalone and Consolidated) of the Company for the Quarter and Year ended 31.03.2019.

2.The Scheme of Arrangement for demerger of real estate business of the Company comprising of Radhika Heights Limited alongwith its subsidiaries and two properties, into its wholly owned subsidiary namely, Ravinder Heights Limited, subject to applicable approvals.

3.Subject to the approval of the Shareholders of the Company, amendment in Memorandum and Articles of Association of the Company in alignment with requirements of Companies Act, 2013 and also in accordance with the terms of the Warrant Subscription and Shareholders Agreement and Debenture Trust Deed both dated 06.04.2019 executed by the Company.

The meeting of the Board of Directors commenced at 11:30 A.M. and concluded at 5:45 P.M.

Pdf Link: Panacea Biotec Ltd. - Outcome of Board Meeting

Source : BSE - www.bseindia.com

Published on May 30, 2019
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