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| Exchange Disseminated Time | AstraZeneca Pharma India Ltd has informed BSE that the Board of Directors (Board) of AstraZeneca Pharma India Limited (Company) have, on March 01, 2014, received by email a scanned copy of the letter from AstraZeneca Pharmaceuticals AB (AZP AB) Sweden, promoter of the Company, proposing to make a voluntary delisting offer (the Delisting Proposal) to the public shareholders of the Company in accordance with the Securities and Exchange Board of India (Delisting of Equity Shares) Regulations, 2009, as amended (Delisting Regulations) with a view to delist the equity shares of the Company from BSE Limited (BSE), National Stock Exchange of India Limited (NSE) and Bangalore Stock Exchange Limited (BgSE) (collectively, Stock Exchanges), being the stock exchanges on which the equity shares of the Company are currently listed (the Delisting Proposal).
AZP AB holds 75.00% of the total paid-up share capital of the Company.
AZP AB has requested the Board of the Company to:
(i) convene a meeting of the Board of the Company to consider and approve the Delisting Proposal, and
(ii) take requisite steps to obtain the prior approval of the shareholders of the Company to the Delisting Proposal by a special resolution passed through postal ballot as per the Delisting Regulations.
A copy of the letter dated March 01, 2014 received from AZP AB in this regard is enclosed. Accordingly, meeting of the Board of the Company has been scheduled on March 05, 2014 to consider the Delisting Proposal and matters incidental hereto. |
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