Aambev Valley Mountains ceases to be subsidiary
Hazoor Multi Projects announced that pursuant to the consent accorded by the board the Company have divested its entire shareholding of Aambev Valley Mountains, a non material, Wholly owned subsidiary of the Company.As a consequence the said subsidiary ceased to by the Company's subsidiary with immediate effect.
The aforesaid divestment of holding will have no bearing on the performance/ operation of the Company as the said subsidiary did not start any commercial operations and it could not generate any revenue and it was a non material subsidiary of the Company in terms of Clause 49 of the Listing Agreement.
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