Enter Company or MF
e.g. Tata motors, Reliance MF, 500570
KIRI INDUSTRIES LTD. - Singapore International Commercial Court Confirms US$_603.80 Million, As The Final Value Of The Company''s Stake In Dystar. - Updates On Court Case In Singapore In Compliance With Regulation 30 Of SEBI (Listing Obligations And Disclosure Requirements) Regulations, 2015.
Download announcement < Back
03 Mar 2023
We are pleased to inform that the Singapore International Commercial Court (&apos;SICC&apos;) vide its judgement dated March 3, 2023 has confirmed the final value of Company&apos;s 37.57% stake in DyStar Global Holdings (Singapore) Pte Ltd (&apos;DyStar&apos;) as US$603.80 million as against US$481.60 Million, which was valued by the SICC vide its judgement dated June 21, 2021 which is now significantly increased by US$122.20 million. The court of appeal (the Supreme Court of Singapore) vide its judgement dated 6 July 2022 had decided two major points in favour of the Company related to 19% Discount for Lack of Marketability and notional licence fees with respect to exploitation of DyStar&apos;s patent by Longsheng and had directed the SICC to give effect of the said Judgement. The buyout order is to be executed now at the value of US$ 603.80 million by Senda International Capital Ltd. Please find attached herewith copy of SICC final valuation judgement dated March 3, 2023 for your reference and records.
View all announcements for KIRI INDUSTRIES LTD. Source: BSE India