Sub: Disclosure pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015
We would like to inform that M/s. Mysore Projects Private Limited, Wholly Owned Subsidiary of the Company has ceased to be Designated Partner of Prestige OMR Ventures LLP today i.e 30th September, 2022. Mysore Projects Private Limited profit sharing ratio in the LLP prior to cessation was at 30%.
We further inform that Mysore Projects Private Limited ceased to be a partner pursuant to the supplemental agreement for reconstitution of Prestige OMR Ventures LLP executed by it on 30th September, 2022. Prestige OMR Ventures LLP will cease to be an Associate of Brigade Enterprises Limited with effect from 30th September, 2022.
The disclosure pursuant to Regulation 30 under SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 read with SEBI Circular No. CIR/CFD/CMD/4/2015 dated 9th September, 2015 is given in "Annexure A".
Thanking You,
Yours faithfully,
For Brigade Enterprises Limited
P. Om Prakash
Company Secretary & Compliance Officer
Encl:a/a
Annexure A
Sl
Details of Events required to be
Disclosure
No.
disclosed
1.
The amount and percentage of the turnover or
Prestige OMR Ventures LLP is developing a
revenue or income and net worth contributed
capex project in retail due to which there is
by such unit or division of the listed entity
no turnover or income for the year ended 31st
during the last financial year
March, 2022. The total capital contribution
by the partners in the LLP as on 31st March,
2022 is Rs.106.89 crores.
Mysore Projects Private Ltd.'s capital
contribution as on 31st March, 2022 is
Rs. 26.71 crores
2.
Date on which the agreement for sale is
30th September, 2022
proposed to be entered into
3.
The expected date of completion of
29th December, 2022
sale/disposal/ cessation
4.
Consideration received / to be received from
Rs. 45 crores
such sale/disposal/ cessation
5.
Brief details of buyers and whether any of
Not Applicable
the buyers belong to the promoter/ promoter
group/group companies. If yes, details
thereof
6.
Whether the transaction would fall within
This is not a related party transaction
related party transactions? If yes, whether
the same is done at "arm's length"
7.
In case of a slump sale, indicative disclosures
The transaction is not a slump sale
provided for amalgamation/merger, shall be
disclosed by the listed entity with respect to
such slump sale
Attachments
Original Link
Original Document
Permalink
Disclaimer
Brigade Enterprises Limited published this content on 30 September 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 03 October 2022 17:40:34 UTC.
Brigade Enterprises Limited is an India-based property developer. The Company is engaged in the business of real estate development, leasing and hospitality and related services. The Company's segments include Real Estate, Lease Rentals and Hospitality. The Real Estate segment is involved in the property development of residential, commercial - office spaces and mixed-use projects. The Lease Rentals segment develops commercial - office and retail spaces and leases out the same to third parties. The Hospitality segment develops hotel projects which are operated by international operators. Its real estate portfolio includes offices, special economic zone (SEZ), retail, hospitality, townships, clubs, conference centers, senior housing, schools and a real estate technology accelerator program. It has a range of hospitality assets, including clubs, convention centers and hotels. Its retail portfolio includes Orion Malls, neighborhood malls, standalone retail and multiplex/support retail.
BRIGADE ENTERPRISES LIMITED 
