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Hathway Cable & Datacom Limited — Capital/Financing Update 2021
Feb 11, 2021
62729_rns_2021-02-11_0d2139e8-ce67-47cd-bf53-4aadf10ed2b0.pdf
Capital/Financing Update
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February 11, 2021
To, To, The Listing Department The Corporate Relationship Department The National Stock Exchange of India Limited BSE Limited Plot no. C/1, G Block, Bandra Kurla Complex, Bandra P.J. Towers, 1[st] Floor, Dalal Street, (East), Mumbai 400 051 Mumbai – 400 001 NSE Trading Symbol: HATHWAY BSE Security Code: 533162
Dear Sir/Madam,
Subject: Sale of stake in Hathway Palampur Cable Network Private Limited “Hathway Palampur”, Subsidiary Company
Ref: Disclosure pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015
This is to inform that the Company has entered into an Agreement for disposing its entire 51% i.e. 15,300 Equity Shares of Hathway Palampur, Subsidiary Company on February 11, 2021, for which the Company has received a consideration of Rs. 8,10,900/- (Rupees Eight Lakhs Ten thousand and Nine Hundred Only). Pursuant to the same, Hathway Palampur has ceased to be a Subsidiary of the Company.
Hathway Palampur being a non- operating Company, its contribution to the consolidated turnover of the Company as well as to its Networth for the F.Y. 2019-20 was NIL.
The Company has sold its entire shareholding (51%) to Ms. Preetika Kakkar, one of the Existing Shareholder of Hathway Palampur. Ms. Preetika Kakkar does not belong to Promoter/ Promoter Group/ Promoter Companies. This sale does not fall within Related Party Transaction. Further, the transaction is in the nature of sale of entire (51%) stake in a subsidiary and hence it is not a slump sale.
Kindly take the same on record.
Thanking you,
FOR HATHWAY CABLE AND DATACOM LIMITED
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AJAY SINGH
Head Corporate Legal, Company Secretary and Chief Compliance Officer FCS No: 5189
Hathway Cable and Datacom Limited
805/806, “Windsor”, Off C.S.T. Road, Kalina, Santacruz (E), Mumbai 400098. Tel: +91 022 40542500, Fax: +91 22 40542700 Regd. Off:
“Rahejas”, 4[th ] Floor, Corner of Main Avenue & V.P. Road, Santacruz (W), Mumbai-400054.
Tel: +91 022 26001306, Fax: +91 22 26001307 Email: [email protected] Website: w ww.hathway.com CIN: L64204MH1959PLC011421