April 19, 2018 / 11:37 AM / 3 months ago

BRIEF-Fortis Healthcare To Establish Independent Evaluation Process For Evaluating All Binding Proposals

April 19 (Reuters) - Fortis Healthcare Ltd:

* CO APPROVED CONSTITUTION OF EXPERT ADVISORY COMMITTEE, TO OVERSEE EVALUATION PROCESS AND FUNCTION AS ADVISOR TO BOARD

* DECIDED TO ESTABLISH INDEPENDENT EVALUATION PROCESS FOR EVALUATING ALL BINDING PROPOSALS

* SAYS BOARD IS SCHEDULED TO MEET ON APRIL 26, 2018 TO DECIDE THE FURTHER COURSE OF ACTION

* CO APPROVED APPOINTMENT OF ROHIT BHASIN AS ADDITIONAL DIRECTOR (INDEPENDENT) OF CO WITH IMMEDIATE EFFECT FOR 5 YEARS

* STANDARD CHARTERED BANK DIRECTED TO ASSIST THE EXPERT ADVISORY COMMITTEE AND THE BOARD

* DECIDED TO ESTABLISH INDEPENDENT EVALUATION PROCESS FOR EVALUATING ALL BINDING PROPOSALS

* ADVISORY COMMITTEE WILL BE CHAIRED BY DEEPAK KAPOOR, FORMER CHAIRMAN AND CEO OF PWC INDIA

* TAKES NOTE OF REQUISITION FROM FEW SHAREHOLDERS FOR EGM TO APPOINT 3 NEW INDEPENDENT DIRECTORS, REMOVAL OF EXISTING DIRECTORS Source text - reut.rs/2vtxXSv Further company coverage:

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