Advent Hotels International Limited has submitted the Exchange a copy Srutinizers report of Postal Ballot. Further, the company has informed the Exchange regarding voting results
ADVENTHTL · price
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Advent Hotels International Limited has announced the results of its postal ballot where shareholders approved the disinvestment of its stake in Bamboo Hotel And Global Centre (Delhi) Private Limited and the assignment of outstanding loans to Valor Estate Limited. The special resolution was passed with overwhelming majority of 98.43% votes in favor (73.29 lakh votes) against 1.57% against (1.17 lakh votes). The total participation was low at 13.80% of total shares. Notably, the promoter group did not participate in voting. The transaction constitutes a Material Related Party Transaction as per SEBI regulations.
Shareholders have approved the exit from the associate company Bamboo Hotel Delhi and transfer of related loans to Valor Estate Limited. While the overwhelming approval indicates shareholder support, the low participation and promoter abstention may suggest limited retail investor engagement. The transaction will reduce the company's holdings in the associate entity.