Frontline Financial Services Limited has received a formal request from Mr. Tushar Shashikant Shah, who currently forms part of the Promoter/Promoter Group of the company, seeking reclassification of his status from the Promoter/Promoter Group category to the Public category. This intimation is made pursuant to Regulation 31A of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
Details of Promoter Seeking Reclassification:
- Name of Promoter: Mr. Tushar Shashikant Shah
- Current Category: Promoter/Promoter Group
- Proposed Category: Public
- Number of Equity Shares Held: 1,07,400 Equity Shares
- Percentage of Shareholding: 1.82%
The request received from Mr. Shah will be placed before the Board of Directors of the company at its ensuing Board Meeting for consideration. The board will evaluate the request in accordance with the applicable provisions of Regulation 31A of the SEBI (LODR) Regulations, 2015.
The company has committed to taking further necessary action in accordance with the applicable provisions of the SEBI (LODR) Regulations, 2015 and will make requisite disclosures and intimations to the Stock Exchange(s) as and when applicable.