Intimation under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
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The Board of Directors of Sayaji Hotels (Indore) Limited, at its meeting on 18th April 2025, constituted a Committee of Independent Directors as required under SEBI Takeover Regulations. This step was triggered by the receipt of a Detailed Public Statement for an Open Offer to the company's public shareholders by Century 21 Officespace Private Limited (the Acquirer) along with three persons acting in concert — Century 21 Town Planners, M.P. Entertainment and Developers, and Print Solutions. The committee comprises four independent directors, chaired by Mr. Abhay Chintaman Chaudhari. The committee's role is to evaluate the open offer and provide a reasoned recommendation to shareholders.
This is a routine regulatory step triggered by a third-party open offer for the company's shares. Shareholders should watch for the committee's recommendation on whether to accept or reject the offer. The formation of the committee itself does not change the company's operations or financials.