Precious Trading & Investments informs about outcome of board meeting

Precious Trading & Investments has informed that the Board of Directors of the Company at its meeting held on March 14, 2016, has approved the execution of the Share Subscription Agreement and Shareholders Agreement amongst the Company, Sheth Developers & Realtors (India) Limited (‘SDRIL’), the subsidiary of the Company and Reco Fern Pte. Limited (‘Investor’) for issue of 25,941,175 equity shares of Rs 10 each on a private placement basis to the Investor. Pursuant to the said board resolution, the Company has executed the Share Subscription Agreement and the Shareholders Agreement on March 14, 2015. After the allotment of shares to the Investor by SDRIL, the percentage of shareholding of the Company will be reduced to 26.01% and SDRIL will cease to be the subsidiary of the Company but will continue to be an associate company.

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