State Bk.in.gdr Regulatory News (SBID)

24 Jan 2008 12:43

State Bank Of India24 January 2008 LISTING AGREEMENT: CLAUSE 36PURCHASE OF SHARES OF STAKEH0LDERSIN GLOBAL TRADE FINANCE LTD. (GTFL) In terms of Clause 36 of the Listing Agreement, we advise that State Bank OfIndia intends to purchase shareholding in Export-Import Bank of India (EXIM),IFC, Washington (IFC) and FIM Bank, Malta (FIM) in Global Trade Finance Ltd.(GTFL), aggregating to 91% of the total shareholding of GTFL, at an aggregateprice of Rs. 520.55 cr. Approval from RBI for the purchase of these shares isawaited. As per RBI guidelines, a prior Public Notice of 30 days is required tobe given by the sellers and buyer(s) before effecting the sale or transfer ofthe ownership of shares or transfer of control. Accordingly, a public notice isbeing issued jointly by Export-Import Bank of India(EXIM), IFC, Washington(IFC), FIM Bank, Malta (FIM) and SBI regarding the sale/purchase of sharessubject to necessary permissions, consents and /or approval. This information is provided by RNS The company news service from the London Stock Exchange