Last Updated : Monday, January 2, 2017 17:54:18

Mahesh Patel gifts entire 0.91% stake comprising of 1,81,900 shares of Lincoln Pharma to Nishit Patel

AHMEDABAD | MUMBAI | RAJKOT – Mahesh Patel holding 1,81,900 shares of Ahmedabad headquartered Lincoln Pharmaceuticals Ltd has gifted entire stake of 0.91% held by him in the company to Unjha resident Nishit Patel at zero cost on December 28, 2016 – Wednesday, as the transaction is termed as inter-se transfer amongst immediate relatives by way of gift without consideration, the regulatory filing from acquirer said.

Mahesh Patel’s name reflects in the company’s stock holding pattern as on October 27, 2016 as submitted to bourses in India, in the statement showing shareholding pattern of the Promoter and Promoter Group.

As per the statement each acquirer previously held 64,54,715 shares comprising of 32.27% equity stake in the company, which post transactions will stand at 66,36,615 shares at 33.18% equity stake in the company, which according to share holding pattern submitted to exchanges as on October 27, 2016 is a entire promoter group stake.

Whereas 0.91% stake held by Mahesh Patel, post transactions stands nil, the statement said.

Company update regarding inter-se share transfer hit the bourses in India in pre-opening of trading session on Indian bourses today, after the markets had closed over a week on Friday, investors and markets cheered the news and shares of Lincoln Pharma traded in green on positive counters across the day on the two leading Indian bourses – The Bombay Stock Exchange and The National Stock Exchange.


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