Vidli Restaurants has informed that the Board of Directors of the Company, at its meeting held on 20th August, 2021 has considered and approved Related Party Transaction for entering into Share Purchase Agreement with Conwy Hospitality and Vitizen Hotels for the purpose of acquisition of 31,45,510 Equity Shares of Rs 10 each (84.01%) of Vitizen Hotels from Conwy Hospitality at a price of Rs 13 per share for cash. The proposed Related Party Transaction is subject to approval of the members by Ordinary Resolution proposed to be passed at the ensuing Annual General Meeting and is on arms’ length basis.
The above information is a part of company’s filings submitted to BSE.
