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Gujarat Gas Co Ltd Announces Acquisition Of Equity Shares By GSPC Distribution Networks Limited; Announces Appointment Of Chairman Of The Board


Wednesday, 12 Jun 2013 08:16am EDT 

Gujarat Gas Co Ltd announced that GSPC Distribution Networks Limited (GDNL) has acquired 94,519,080 (73.70%) equity shares of Gujarat Gas Company Limited as follows: Acquired 83,518,750 (65.12%) equity shares of GGCL on June 12, 2013 from BG Asia Pacific Holdings Pte. Ltd (BGAPH), as per the Share Purchase Agreement and Acquired 11,000,330 (8.58%) equity shares of GGCL on March 12, 2013 under the Open Offer in terms of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations 2011. Upon the completion of acquisition of the equity shares of GGCL by GDNL as aforesaid, the total shareholding of GDNL in GGCL as on June 12, 2013 is 94,519,080 (73.70%) equity shares. The Company also announced that Dr. Varesh Sinha has been appointed as the Chairman of the Board of Directors and as the Chairman of the Company with effect from June 12, 2013. Mr. Hasmukh Shah has resigned as the Nominee Director of BGAPH from the Board of Directors and as Chairman of the Company w.e.f. June 12, 2013. 

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19 Dec 2014