Gillanders Arbuthnot & Company Ltd has informed BSE that a Meeting of the Board of Directors of the Company was held at its registered Office on Thursday, the 9th March, 2017 inter alia to consider and approve sale of its stake in Waldies Compound Limited (Formerly Barfani Builder Limited), an Indian Subsidiary of the Company.

The Board subsequently approved the sale and transfer of entire shareholding of 99.99% equity shares in Waldies Compound for INR 210.6 million.