Zydus Lifesciences informs about outcome of board meeting

16 Dec 2024 Evaluate
Zydus Lifesciences has informed that Zydus Animal Health and Investments, a wholly owned subsidiary (ZAHL) had acquired 65,06,500 equity shares of Re. 1(Rupee One only) each fully paid-up, representing 6.5% of the total paid-up share capital (the Sale Shares) of Mylab Discovery Solutions (Mylab) from Rising Sun Holding (RHSPL) at an agreed consideration of Rs. 106 Crores (Rupees One Hundred and Six Crore only) vide a Share Purchase Agreement (SPA) executed by ZAHL, RHSPL and Mylab on June 23, 2023. Now, pursuant to the terms and conditions of the SPA, ZAHL has exercised its Put Option right to sell the Sale Shares back to RHSPL and RHSPL has agreed to acquire the Sale Shares at the original consideration amount, Rs. 106 Crores (Rupees One Hundred and Six Crore only). The Board of Directors of ZAHL at their meeting held today, December 16, 2024, approved the disinvestment of Sale Shares, as per the terms and conditions of the SPA. Post that, ZAHL, RSHPL and Mylab have executed the termination deed. The Board meeting of ZAHL commenced at 10:15 am and concluded at 10:45 am. Requisite disclosure as required under the SEBI Circular dated September 9, 2015 is enclosed as Annexure-A.

The above information is a part of company’s filings submitted to BSE.

Zydus Lifesciences Share Price

982.50 13.00 (1.34%)
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