As per attached annexure.
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
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The board of Netlink Solutions India approved new director appointments following a change in control. Arix Capital Limited, Mrs. Kajal Gopal Baldha, and Mr. Punitbhai Bavanjibhai Lakkad (collectively the Acquirers) triggered an open offer under SEBI takeover rules for 26% of Netlink's voting share capital. This follows the Acquirers' purchase of 51% of the paid-up equity of Netlink's holding company, Jupiter Infomedia Limited, giving them indirect control. The board appointed Mr. Viren Bakraniya as Additional Non-Executive Non-Independent Director and Mrs. Kajal Baldha (one of the Acquirers) as Executive Director and Whole-Time Director for five years. Additionally, the board approved inter-corporate loans up to Rs. 30 crores to entities as decided from time to time.
Shareholders should note this signals a change in ownership and management of the company. Existing investors will have the option to tender shares in the open offer for 26% of voting capital. The new management may bring strategic shifts, and the Rs. 30 crore inter-corporate loan limit could affect the company's capital deployment.