| <p>Persistent Systems Ltd. informed the BSE that its board of directors has granted in-principle approval for the disinvestment of up to 20% equity stake from its existing 75% stake in subsidiary M/s. Unique Airfreight Express And Logistics Private Limited, subject to valuation, Audit Committee approval, and execution of definitive agreements; post-disinvestment, Persistent Systems’ shareholding will be 55%. The proposed disinvestment is intended to be made to Mr. Sunil Alwa, a director and shareholder of M/s. Unique Airfreight Express And Logistics Private Limited, and the transaction is considered a related party transaction being entered into at arm’s length.</p> |