Yatra Capital Limited
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Publicatie datum
12 nov 2013 - 05:43
Statutaire naam
Yatra Capital Limited
Titel
Update on Disposal Program, Return of Capital and Change of Auditors
Bericht
The Board of Yatra Capital Limited (“the Company”) announces the disposal of its equity interest in a residential project investment in Treasure Town – Bijalpur, Indore, India. The Company, through its 100% subsidiary, K2 Property Limited, has approved a phased exit from this investment for a total consideration of INR 439 mn (c. EUR 5.24mn), of which EUR 4.57 mn has to date been received. The balance proceeds from this divestment is expected to be received by March 2014. The total cash received from various disposals since 1st April 2013 is now EUR 12.2 mn.
The Board has resolved to return to shareholders as soon as practicable the sum of EUR 10 mn using tender mechanism in which all shareholders will be asked to participate. The timing of the tender and the announcement of its terms will however be delayed in order for shareholders to be able to review the interim financial statements for the Company for the period to 30th September 2013 in deciding to participate or not. The Company intends to publish its interim results and the price at which the Company will tender for shares, during the week commencing 25th November 2013.
Pursuant to a resolution passed at the Company’s Annual General Meeting held on 23rd September 2013, the Company is pleased to announce the appointment of KPMG Channel Islands Limited as auditors to the Company, replacing PwC. We thank PWC for their past service
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Datum laatste update: 02 september 2024