|
| Exchange Received Time 14/06/2019 17:45:49 Exchange Disseminated Time 14/06/2019 17:45:54 Time Taken 00:00:05 | Pursunt to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 this is to inform that Power Finance Corporation Ltd (PFC) has today signed a performance-based 'Memorandum of Understanding' (MoU) with REC Ltd. (formerly Rural Electrification Corporation Limited) detailing various targets to be achieved by REC Ltd. during FY 2019-20. The MoU has been signed by Shri Rajeev Sharma, CMD, PFC and Shri Ajeet Kumar Agarwal, CMD, REC in presence of senior officials of PFC & REC Ltd. The MoU contains various financial and Non-financial parameters including sector-specific and result oriented measurable parameters.
PFC had acquired entire Govt. stake representing 52.63% of the share capital of REC Limited at a consideration of ~ Rs. 14500 crores on 28th March 2019 thus becoming the holding company and also a promoter of REC Ltd.
|
|
|