Thomas Cook - Outcome of Board Meeting
Thomas Cook India Ltd has informed BSE that the Board of Directors of the Company at its meeting held on March 30, 2008, has reconstituted its Board of Directors with the induction of four new Directors.
- Mr. Manny Fontenia-Novoa, Group Chief Executive Officer, Thomas Cook Group plc, UK (TCG)
- Dr. Jorgen Boser, Chief Financial Officer, Thomas Cook UK Ltd
- Mr. Michael Hallisey, Executive Director - Legal, Thomas Cook UK Ltd
- Mr. Roland Zeh, Director Finance-Integration, Thomas Cook UK Ltd
All join as additional Directors with effect from March 31, 2008.
They will replace the outgoing Directors representing Dubai Financial Group, Mr.
Sayanta Basu, Ms. Jacqueline Asher and Mr. Abdul Hakeem Kamkar. Mr. Mahendra Doshi, Independent Non-Executive Director, TCIL also stepped down from the Board.
No further change in Board was announced, with Mr. Udayan Bose continuing as Chairman and Mr. Madhavan Menon as Managing Director.
Upon the acquisition of TCIM Ltd by Thomas Cook UK Ltd and in accordance and in compliance with regulation 22(7) of the SEBI takeover regulations, Thomas Cook UK Ltd has reconstituted the Board on March 30, 2008, being 21 days after the date of the Public Announcement. It may be recalled that on March 07, 2008, TCUK had announced that it would acquire up to 74.9% in TCIL and 100% of Thomas Cook branded businesses in Egypt, as well as the licenses for the Thomas Cook brand in a total of 15 Middle East countries. Pursuant to that announcement, TCUK made a Public Announcement on March 08, 2008 to acquire up to a further 20.4% of the voting capital of TCIL.
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