Business Update25 Sept 2024, 12:02 am
Gautam Gems Ltd to Invest £1,00,000 in AG Corporation Ltd, Announces Director Resignations
AI Summary
Gautam Gems Ltd has announced that at their meeting held on 24.09.2024, the Board of Directors considered and approved an Overseas Direct Investment of £1,00,000 in AG Corporation Ltd, a company registered in England and Wales. This investment will be used towards the subscription of the Memorandum of Association (MOA) of AG Corporation Ltd, making it a wholly owned subsidiary of Gautam Gems Ltd. Additionally, the Board announced the resignation of Mrs. Kanchanben Pravinbhai Sheth, Executive Director, and Prakash Nanalal Mehta, Non-Executive Independent Director. Further details regarding these changes can be found in the provided annexures.
Key Highlights
- Gautam Gems Ltd to invest £1,00,000 in AG Corporation Ltd
- AG Corporation Ltd to become a wholly owned subsidiary of Gautam Gems Ltd
- Mrs. Kanchanben Pravinbhai Sheth resigned as Executive Director
- Prakash Nanalal Mehta resigned as Non-Executive Independent Director
- Investment aimed at subscribing Memorandum of Association (MOA) of AG Corporation Ltd