Shareholders of Pamodzi are referred to the First Cautionary Announcement dated 31st July 2023 concerning the ongoing discussions between the promoter and majority shareholder of Pamodzi Hotels PLC, Tata International Singapore Pte Ltd (“TISPL”) and Indian Hotels Company Limited (a public listed company in India) (“IHCL”), for exploring options to sell its stake in the Company. The discussions between TISPL and IHCL are ongoing, and no final-binding agreements have been entered into between them.
As a matter of abundant precaution and good governance, the investors of the Company are advised to
exercise caution when trading in the Company’s shares and should seek the professional advice of a broker or investment advisor for any guidance in that regard.
The Company will issue further announcements in this regard, as soon as there is any further update in this matter, which may have a material effect on the price of the Company’s securities. Further, the Company hereby undertakes to take all necessary actions to protect the interests of all the shareholders, including the minority shareholders, in all respects, in terms of the provisions of applicable laws.
By order of the Board,
Dinesh Jha
Director
