Thomas Cook EGM approves investment in TCI, TT Enterprises

Thomas Cook India Ltd has announced that the members at the Extra Ordinary General Meeting (EGM) of the Company held on December 26, 2006, inter alia, have accorded to the following:

1. Authority to the Board to invest an amount not exceeding Rs 182,45,00,680.00 in the equity share capital of Travel Corporation (India) Pvt Ltd (TCI), by acquiring all the equity shares of TCI numbering 15,76,692 shares from its existing shareholders at a price not exceeding Rs 1,157.17 per share in one or more tranches, subject to necessary provisions & approvals.

2. Authority to the Board to invest an amount not exceeding Rs 16,91,00,000/- in the equity share capital of the demerged TT Enterprises Pvt Ltd (TTEPL), by acquiring 76% of the equity shares of TTEPL numbering 12,91,088 shares from its existing shareholders at a price not exceeding Rs 130.98 per share in one or more tranches, subject to necessary provisions & approvals.

Source : Equity Bulls

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