Panoramic Universal Ltd Announces Acquisition Of Starting Right Investments Two Two Five (Proprietary) Limited And Investment In Equity Shares Of Seaview Homes Co., Ltd.

Panoramic Universal Ltd announced that the Board of Directors of the Company at its meeting held on August 03, 2012, inter alia, has approved acquisition of Starting Right Investments Two Two Five (Proprietary) Limited, Namibia as a Wholly Owned Subsidiary Company. The Company has in has acquired 100% stake in Starting Right Investments Two Two Five (Proprietary) Limited having its registered office in Namibia by investing in the equity shares of the said Company thereby making it a wholly owned subsidiary of the Company. As a part of its overseas foray, the Company has invested in the equity shares of Seaview Homes Co., Ltd, a Thai Company incorporated under the Civil and Commercial Code of Thailand having Registration No: 0835555006350 dated June 05, 2012 to the extent of 70%, thereby making it a subsidiary of the Company.