Cineline India Limited — Board Meeting, 10-12-2024: Outcome of Board Meeting

The Board of Directors of Cineline India Limited has approved the sale of its wholly-owned subsidiary, R&H Spaces Private Limited, which owns the Hotel Hyatt Centric in Goa. The transaction has an enterprise value of no less than ₹270 crore, subject to obtaining necessary approvals, including shareholder consent. The Board aims to finalize the sale by March 31, 2025, contingent upon fulfilling any applicable conditions. This strategic sale is expected to enhance the company's financial position and refocus its operational strategies.