DLF informs about outcome of board meeting

13 Dec 2018

Further to intimation dated December 9, 2018 under Regulation 29 of the SEBI (LODR) Regulations, 2015, DLF has informed that the Board of Directors at its meeting held on December 12, 2018 have considered and approved offering up to 17.30 crore equity shares of Rs 2 each in one or more tranches by way of private placement, including Qualified Institutions Placement (QIP), subject to the approval of the shareholders, which is being sought by way of Postal Ballot. It is clarified that the company is seeking the approval of the shareholders afresh, since the earlier approval granted by the shareholders for the aforementioned offer (vide Special Resolution passed at the Extra-Ordinary General Meeting held on December 27, 2017) is valid until December 26, 2018 in terms of SEBI (ICDR) Regulations, 2018; and Condensed Consolidated Unaudited Financial Statements for the period ending September 30, 2018 along with Limited Review Report for inclusion in the placement document/offer letter that may be issued in relation to the aforesaid offer. Also, pursuant to Regulation 30 read with Schedule III Part A Para A(7) of SEBI (LODR) Regulations, 2015, the company has further informed that Saurabh Chawla, Group CFO of the company, has expressed his wish to move on, in his desire for exploring new professional opportunities and tendered his resignation. The Board of Directors and Audit Committee of the Board, while accepting the resignation, placed on record their deep sense of appreciation to Saurabh Chawla for his distinguished services over the last 12 years in various responsibilities. The Board and Audit Committee also decided that Ashok Kumar Tyagi, Whole-time Director, who was the group CFO till December 2017, will assume responsibility and functions of the group CFO and will work with Saurabh Chawla to ensure a seamless transition. It is anticipated that the transition should be completed by end of January 2019. The meeting of the Board was commenced at 17:30 pm and concluded at 20:30 pm.

The above information is a part of company’s filings submitted to BSE.

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