<h1>Le Merite Exports Limited Cancels Planned Acquisition of Equity Stake in Le Merite Tactical & Defence Solutions</h1>
Le Merite Exports Limited has announced that it will not be proceeding with a previously proposed acquisition of an additional equity stake in Le Merite Tactical & Defence Solutions Private Limited (LMTDSPL). The company confirmed the cancellation of the transaction after the shareholder expressed unwillingness to complete the sale.
The cancelled proposal involved the acquisition of 14.5% equity stake, equivalent to 14,500 equity shares, from Mr. Nand Nandan Sureka. Originally approved by the Board of Directors, Le Merite Exports Limited had a maximum consideration set for the purchase not exceeding ₹ 1,45,000.
Le Merite Exports confirmed that due to the reluctance expressed by Mr. Nand Nandan Sureka regarding the sale and transfer of the shares, the proposed acquisition has been cancelled and will not move forward. Consequently, there will be no alteration to the existing shareholding held by Le Merite Exports Limited in LMTDSPL related to this proposal.
LEMERITE Stock Price Movement
Le Merite Exports Limited stock gained 2.46% in trading today, settling at ₹23.35 after market close. The equity traded within an intraday range of ₹23.00 to ₹23.95 and saw a total volume of 343,561 shares.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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