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The Fortis Healthcare Limited Board has extended the bid date for companies or consortiums willing to take over it’s businesses.
In a filing to the exchanges, the company said, “The EAC (Expert Advisory Committee) will only consider evaluating all binding bids (whether the current/improvised/modified or new) received by the Company till 12:00 noon, IST on May 1, 2018.”
The EAC is constituted to make recommendations on the bids received to the company Board. The Board is to meet on May 10 to take a call on these recommendations. “In line with the obligations towards Manipal and TPG consortium, if any new or modified binding bids are received anytime till 12.00 Noon on May 1, 2018; Manipal and TPG consortium have the ability to revise their offer till May 6, 2018,” the statement further said.
At its meeting that ended late at night, the Company Board appointed Suvalaxmi Chakraborty, Ravi Rajagopal and Indrajit Banerjee as Additional Directors (Independent Category). Their appointment is recommended by National Westminster Bank Plc, East Bridge Capital Master Fund Ltd. and East Bridge Capital Master Fund I Ltd.
The National Westminster Bank Plc is a Trustee of the Jupiter India Fund (as represented by Jupiter Asset Management Limited as duly authorized investment manager). The three collectively represent an aggregate of 12.04 per cent of the paid up capital of the Company
The company will hold an Extra Ordinary General Meeting of the Company on May 22, 2018 to consider the resolutions proposed by the three.
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