Kindly find attached herewith the outcome of the Board Meeting held on 14th August, 2025 in accordance with the provisions of SEBI LODR Regulations, 2015
Awaiting price reaction for this filing.
GB Global Ltd's board met on 14 August 2025 and approved three key items. First, the board cleared the Unaudited Standalone and Consolidated Financial Statements along with the Limited Review Report for Q1 FY26 (quarter ended 30 June 2025). Second, the board re-approved the proposed merger by absorption of GB Global (the listed Transferor Company) into Dev Land & Housing Private Limited (DLH, the unlisted Transferee Company) under Sections 230-232 of the Companies Act, 2013. The deal is classified as a related-party transaction done at arm's length. Shareholders of GB Global (other than DLH) will get an exit via an open offer at Rs. 120 per equity share (face value Rs. 10), plus 1 Redeemable Preference Share of Rs. 10 face value for every 1 equity share held. Upon completion, GB Global (the listed entity) will stand dissolved and delisted, while DLH takes over its textile/garments and infrastructure businesses alongside its own real estate operations.
This is a significant event for shareholders – GB Global, the listed entity, will cease to exist post-merger, effectively leading to delisting. Eligible shareholders have a clear cash exit option at Rs. 120 per share (vs. face value of Rs. 10), which provides a defined floor. Investors should watch for NCLT/SEBI/BSE-NSE approvals, the open offer timeline, and the swap ratio terms before deciding to tender or hold. The Q1 results, though approved, are not detailed in this filing and will require a separate review.