Ucal Ltd. Approves Dilution of Stake in Subsidiary and Sale of Residential Plot

Ucal Ltd. announced that its Board of Directors approved the dilution of stake in its wholly owned subsidiary, Ucal Holdings Inc., USA, up to 90%. The Board also approved the sale of a residential plot owned by Ucal Polymer Industries Limited, a material subsidiary of Ucal Ltd., to M/s. Sujo Land and Properties Private Limited, a promoter group company, for a total cash consideration not exceeding Rs.45 Crore. The sale is subject to approval of the shareholders under Regulation 24 (6) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015.