General Announcement::Divestment of 100% stake in Asia Pacific Flight Training Academy Limited

Issuer & Securities

Issuer/ Manager
GMR HYDERABAD INTERNATIONAL AIRPORT LIMITED
Securities
GMRHYDERABUS$350M4.25%N271027A - US36256WAA27 - 83DB
GMRHYDERABUS$350M4.25%N271027R - USY3004WAA00 - 83EB
Stapled Security
No

Announcement Details

Announcement Title
General Announcement
Date &Time of Broadcast
04-Mar-2019 12:56:37
Status
New
Announcement Sub Title
Divestment of 100% stake in Asia Pacific Flight Training Academy Limited
Announcement Reference
SG190304OTHRLBZC
Submitted By (Co./ Ind. Name)
Anup Kumar Samal
Designation
Company Secretary
Effective Date and Time of the event
04/03/2019 10:00:00
Description (Please provide a detailed description of the event in the box below)
This is to inform you that GMR Hyderabad International Airport Limited (GHIAL) a subsidiary of GMR Infrastructure Limited (GIL), has divested its 100% stake in its subsidiary namely Asia Pacific Flight Training Academy Limited (APFTAL) to a third party, for a token consideration. APFTAL is engaged in the business of providing flight training and as per the latest unaudited financial statements for the Nine month period ended December 31, 2018, APFTAL had a turnover of Rs.4.72 Crore, PAT of Rs.(1.47) Crore (excluding exceptional items) and accumulated losses of Rs.11.37 Crore.

Consequent to the above divestment, APFTAL has ceased to be a subsidiary of GHIAL and thereby also of GIL.

Please take the same on record.

Attachments

GHIAL Intimation to SGX on Divestemnt of APFTAL.pdf
Total size =46K