PNB Housing told exchanges on Wednesday that its board met on 5 and 6 July after receiving the letter from its parent on 4 July. “This is price-sensitive information and would have influenced the market price of PNB Housing’s stock; it would have helped the public shareholders of PNB Housing take an informed decision while trading in PNB Housing’s stock." Shareholders of PNB Housing on 22 June voted on a special resolution for a preferential allotment of shares to Carlyle and other investors. The parties to the deal are PNB and private equity firms Carlyle, General Atlantic and Ares SSG, which own a combined 85% stake in PNB Housing. Results of the voting have not been disclosed since SAT has directed PNB Housing to keep the figures in a sealed cover until its final order.

Source: Mint July 07, 2021 15:40 UTC