NEW DELHI: on Tuesday said its shareholders have given a nod to the company’s acquisition by Malaysia’s . The shareholders voted by an overwhelming majority of 99.69% in favour of issuance of equity shares on a preferential allotment basis, the company said.
The company added that they have also approved by 99.99% votes to reclassify members of promoter/promoter group to public shareholder category and classification of Northern TK Venture as a promoter. Additionally, the shareholders have approved an increase in authorised capital of the company and alteration of capital clause of memorandum of association of the company, it added.
Fortis Healthcare chairman Ravi Rajagopal said, “I am delighted to announce that we have received an overwhelming 99.7% votes in favour of the preferential allotment to IHH, from the shareholders who voted.” With this approval, the transaction is now awaiting other regulatory nods, he added. “We believe a partnership with IHH will further strengthen Fortis’ operational platform and open new opportunities, thereby placing the company in a far more strong and resilient position.”
In a filing to the BSE, the company also reported a consolidated net loss of Rs 53 crore for the first quarter ended June 30, 2018-19. It had posted a net profit of Rs 23 crore for the April-June period of the previous fiscal. Consolidated income from operations stood at Rs 1,042 crore for the quarter under consideration. It was Rs 1,157 crore for the year-ago period.
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